Quick Facts
Invented macroeconomics. Economist who saved capitalism from itself.
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Life Journey
John Maynard Keynes was born to John Neville Keynes, a renowned economist and logician, and Florence Ada Brown, a social reformer. He was the first of three children in a family that valued education and social progress.
At the age of 14, Keynes won a prestigious scholarship to Eton College, one of the most elite schools in England. His academic prowess was evident from an early age, excelling in mathematics and classics.
Keynes began his undergraduate studies at King's College, Cambridge, where he studied mathematics and economics. He was deeply influenced by the intellectual atmosphere and the Cambridge Apostles, a secret society of intellectuals.
After completing his studies and a brief stint in the civil service, Keynes returned to Cambridge as a lecturer in economics. He began to establish himself as a leading thinker in the field of economics.
Keynes' critique of the Treaty of Versailles in 'The Economic Consequences of the Peace' brought him international fame. He argued that the harsh reparations imposed on Germany would lead to economic instability and future conflict.
Keynes married Lydia Lopokova, a Russian ballerina, in a private ceremony. Their marriage was a blend of intellectual and artistic worlds, with Lopokova providing a balance to Keynes' intense academic life.
Keynes' magnum opus, 'The General Theory of Employment, Interest, and Money,' revolutionized economic thought. It introduced the concept of government intervention in the economy to manage demand and reduce unemployment.
During World War II, Keynes served as an advisor to the British Treasury, playing a crucial role in economic policy and negotiations. His work helped shape the post-war economic order, including the establishment of the International Monetary Fund (IMF).
Keynes represented the United Kingdom at the Bretton Woods Conference, where he proposed the creation of a world central bank. Although his plan was not fully adopted, the conference led to the establishment of the IMF and the World Bank.
John Maynard Keynes died of a heart attack at his home in Tilton, Sussex. His legacy as one of the most influential economists of the 20th century endures, shaping economic policy and thought worldwide.