SCHOOLS OF THOUGHT
John M. Keynes
- I was born in Cambridge, England, in 1883. My father was an economist and academic administrator at King's College, Cambridge, where my mother was one of the first female graduates.
- My most important book, The General Theory of Employment, Interest, and Money, was published in 1936.
- I argued that government spending and running a budget deficit can reduce unemployment.
- I imagined that government should use expansionary fiscal policy to increase consumer demand, which in turn increases economic growth.