Keynesian economics was developed by the British economist John Maynard Keynes during the 1930s in an attempt to understand the Great Depression. Keynes advocated increased government expenditures John Maynard Keynes (b June 5, 1883, Cambridge, Cambridgeshire, eng.—d. April 21, 1946, Firle, Sussex), was an English economist, journalist, and financier. Although prominent in politics, he achieved his greatest fame as a the author of "The General Theory of Employment, Interest and Money" (1935-36), and as a result of the influence of John Maynard Keynes was arguably the greatest economist of the 20th century. He discovered the idea that governments should stimulate demand during economic downturns - and was the creator of The Keynesian economic theory is a lot like the socialist government theory. It sound good on paper but doesn't work in reality. After all it is a theory and theories don't actually have to work -- after all they are just theories, not practice. John Maynard Keynes starts with "one person's spendings". Keynes on Possibilities 1 John Maynard Keynes, Economic Possibilities for our Grandchildren (1930)* I We are suffering just now from a bad attack of economic pessimism. It is common to hear people say that the epoch of enormous economic progress which characterised the nineteenth century is over; that the rapid improvement John Maynard Keynes, 1883-1946. British economist John Maynard Keynes is doubtlessly one the most important figures in the entire history of economics. Keynes revolutionized economics with his classic book, The General Theory of Employment, Interest and Money (1936). This is generally regarded as probably the most influential social science Dr. Hyman Minsky has written a very interesting, pertinent, and generally very readable interpretation and exposition of the economics of John Maynard Keynes. Dr. Minsky's exposition is also very well based upon the actual Keynesian economic theory developed in the books and articles by John Keynes. Keynesian economics is basically a macroeconomic theory based on the ideas of John Maynard Keynes, a British economist of the 20th century. Considered one of the most important schools of thought in economics, it is also referred to as the Keynesian theory or Keynesianism. The British economist John Maynard Keynes developed this theory in the 1930s. The Great Depression had defied all prior attempts to end it. President Franklin D. Roosevelt used Keynesian economics to build his famous New Deal program. In his first 100 days in office, FDR increased the debt by $4 billion to create 16 new agencies and laws. John Maynard Keynes, Economic Possibilities for our Grandchildren (1930)* I We are suffering just now from a bad attack of economic pessimism. It is common to hear people say that the epoch of enormous economic progress which characterised the nineteenth century is John Maynard Keynes and the Modern Revolution in Political Economy James Piereson Published online: 20 March 2012 # Springer Science+Business Media, LLC 2012 The Great Depression, more than any previous economic crisis, ignited a fundamental rethinking of the future of the capitalist system. What had gone wrong with the market John Maynard Keynes and the Modern Revolution in Political Economy James Piereson Published online: 20 March 2012 # Springer Science+Business Media, LLC 2012 The Great Depression, more than any pr