FREE ESSAY ON KEYNES FRIEDMAN

KEYNES FRIEDMAN

Keynes, John Maynard, Baron Keynes of Tilton
1883-1946, English economist and monetary expert. His theories, known as Keynesian
economics, are the most influential economic formulation of the 20th cent. In 1919 he
represented the British treasury at the peace conference ending WORLD WAR I, but he
resigned in protest over the VERSAILLES Treaty's economic provisions. He gained world
fame with Economic Consequences of the Peace (1919). His departure from the classical
concepts of a free economy dates from 1929, when he endorsed a government public-works
program to promote employment. In the 1930s his theories prompted several nations to
adopt spending programs, such as those of the NEW DEAL, to maintain high national income.
His chief work, The General Theory of Employment, Interest, and Money (1936), advocates
active government intervention in the market and, during recessionary times, deficit
spending and easier monetary policies to stimulate business activity. At the Bretton
Woods Conference (1944) he helped to win support for the creation of a world bank. He was
raised to the peerage in 1942. 
Bibliography
me,. my head