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How many of us still remember John Maynard Keynes? Keynes, also called "1st Baron Keynes," was a British Economist who lived from 1883 to 1946. He has had a profound influence upon macroeconomics, including the economic policies of various governments. Keynes believed in applying monetary and fiscal policies to lessen the deleterious effects of both recessions and depressions. Keynes went against the classicists of his time who believed that the free markets provided the answer for economic prosperity, even in times of recession.
Re: Is Keynesian Economics Relevant Today?
Posted by: BrutusBuckeyes 2012-06-21 19:25:36 In reply to: Theodore F. di Stefano
Nice Keynesian revisionist history of the depression... The better model would be Austrian economics which would get rid of the keynesian created bubbles and depression/recessions that follow the bubble bursts.
