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English economist who advocated the use of government monetary and fiscal policy to maintain full employment without inflation (1883-1946)

John Maynard Keynes [John Maynard Keynes Keynesian]

(1883–1946) an English ↑economist whose ideas have had a great influence on modern politics and ↑economics. He argued that governments could deal with the problem of a failing economy by spending more money on public projects such as roads, schools, etc. This was popular until the 1980s when it was argued that such a policy leads to ↑inflation. Keynes also represented Britain in economic ↑conferences after the two World Wars and helped to establish the International Monetary Fund. He was a leading member of the ↑Bloomsbury Group and was made a ↑lord in 1942. ▶.

Derived Word: ↑Keynesian