John Maynard Keynes : The Father Of Macroeconomics

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Abstract John Maynard Keynes, also known as the ‘Father of Macroeconomics’, is a twentieth century economist, whose impact on economic theories has proven substantial contribution to reconstructing of economical values. He had influential individuals who helped intrigue and develop his interests in economic. Keynes interests were beyond economics; he took active stance on proposing post-war monetary funds, important for Germany’s reparation and reconstruction funds after World War II. Through his different opportunities and bureaucracy, Keynes developed theories, for which he believed is vital to establishing economies. (“Keynes”, 1968). Introduction John Maynard Keynes (1883 – 1946), an economist with a liberal approach to…show more content…
(Hofmann, 2010). Influences Keynes important influences include his family Arthur Pigou and Alfred Marshall. Keynes parents John Neville Keynes and Florence Ada Keynes, helped foster Keynes interest in mathematics and economics from a young age. John Neville Keynes, being an economist and lecturer contributed both moral and financial support to Keynes, even during the Great Depression and in Keynes return to Cambridge in 1908. (Keynes, 2015). Arthur Pigou and Alfred Marshall are prominent economists at Cambridge, whose writings on the quantity theory of money were the foundations to Keynes’s Tract on Monetary Reform. (“Keynes”, 2008). Economic Impact Wolf (2008) stated that Keynes the “father of macroeconomics” has relevant values that are still applicable to today’s society and provides an outlet during financial crisis. Wolf (2008) mentioned three Keynes values as: the pretension of financiers should not be taken seriously creating ‘efficient markets’, the economy cannot be analyzed in the same method as an individual business and the economy should not be treated as a morality tale. Wolf emphasis of Keynes economic impact was to economy as a whole system that has different outlets and within those outlets are governing bodies that contributes
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