Keynesian Economics John Maynard Keynes is uncertainly one the most important figures in the history of modern economics. The son of the Cambridge economist and logician John Neville Keynes, John Maynard Keynes was born in Cambridge, England on June 5, 1883. Keynes was educated in Britain’s most elite institutions, Eton and then King's College Cambridge. In 1906, he entered the British civil service for a little while and worked in the Indian Treasury as a junior clerk. …showed first 75 words of 804 total…

…showed last 75 words of 804 total…stimulate the economy. If governments spent money on public works it would help purchasing power. He believed that this government aid would stabilize a capitalist marketplace and the created employment would make up for the deficit. Many doubted his ideas and this created major controversy. However, when Roosevelt was out of all other ideas and implemented Keynesian economics the economy improved. Keynesian economics has effected the post-Depression era and has changed the world economy forever