In the 1930s, as Europe and the United States struggled to I overcome the worse depression in history, British economist John Maynard Keynes counseled governments to do something never attempted before-spend huge amounts of money to stimulate the economy and get people working again, even though it meant running large budget deficits. Tireless and outspoken, he developed and promoted a new approach on stabilizing capitalist economic systems. That approach became known as Keynesian economics.
Professor, philosopher, British lord, patron of the arts and husband of a famous ballerina, Keynes was all of these things, and more. His radical idea for governments to spend more than they have, made him one of the greatest economists of the twentieth century. His controversial approach has its ardent supporters and critics. It is taught at universities and continues to influence economic policy throughout the world.
Table of Contents
1 Early Years 6
2 Cambridge and London 20
3 The Professor of Bloomsbury 32
4 Financing the War 45
5 The Economist and the Ballerma 61
6 A Happy Marriage and a Depressed Economy 79
7 From Depression to War 92
8 War and Economics 111
9 Bretton Woods 122
10 Legacy 129
Time Line 134
Source Notes 135