John Maynard Keynes: The Economic Consequences Of The Peace

John Maynard Keynes is perhaps one of the most influential economists of our generation. Keynes, a British economist who lived from 1883 to 1946, changed the philosophy and practice of macroeconomics including the government economic policy. His theory, referred to as Keynesian Economics, was based on a circular flow of money, which refers to the idea that when spending increases in an economy, earnings also increase, which can lead to even more spending and earnings. Keynes believed that the government should intervene throughout the business cycle to increase spending and enable the economy to prosper to its full potential even during times of recession. John Maynard Keynes was born into an affluent family on June 5, 1883 in Cambridge, England. His father John Neville
Keynes took charge of foreign-exchange arrangements before the war ended. Serving in the Paris Peace Conference as a British Treasury delegate, John Maynard Keynes faced the main crisis of his life. The cause of this incident was due to John’s dislike of the British policy. Keynes resigned in June 1919, in a letter to the Prime Minister David Lloyd George. This letter made it so that it would be a considerable time before he could officially be employed. Keynes published an attack on the peace settlements within three months, called The Economic Consequences of the Peace (1919). This book was quickly recognized as a masterpiece of polemical writing; the best-selling book led Keynes to world fame. Keynes became bursar of that college after returning to his academic works. In 1921, he published the book, A Treatise on Probability which was considered an important work that laid a philosophical and mathematical foundation of the probability theory. He dedicated much of the 1920s actively contributing to journalism and selling his work domestically and internationally as a financial