John Maynard Keynes and His Contribution to Economics and America Essay

IntroductionWith the recent recession John Maynard Keynes and his theories atomic number 18 cosmos debated by millions of the Statesns, though likely without their knowledge, as his theories have become built-in to the Statess economic policy. A search of John Maynard Keynes on Google news, limited to just the past week, yields more than 200 results, illustrating the scope of Keynes continue influence. Fueled by concerns over unemployment and rising prices the debate rages over presidential terms role in the economy, including regulation of industry, tax rates, and government outlay to stimulate the economy. What people are really arguing over are the merits of supply-side economic versus demand-side. Keynes or Keynesian economics is based on the persuasion that government can boost employment or cut inflation by manipulating the demand side of the economyincreasing government disbursal and expanding the money supply to boost employment and doing just the opposite to compass down inflation. The two decades between 1919 and 1939 had seen great economic instability. The economic troubles were macrocosm experienced both at home and abroad. In addition to the unemployment plaguing America and other major capitalist industrial nations--Britain, France, and Germany there was also incubus inflation, collapsing banks, and agrarian and industrial devastation. The start of this economic collapse coincided with the end of globe War I and the accompanying peace treaty.Keynes, a British economist had been advising his government throughout World War I, including The Paris Peace Conference. He entered the international scene of economics with his 1919 book titled, The Economic Consequences of the Peace. The book captured his views pursuance the Treaty... ...s, 1989. Print. (432) Ibid, 432 What Was the New Deal? Franklin D. Roosevelt - American Heritage Center, Inc. 2006. Web. 21 May 2011. . Hofstadter, The America Political Tradition, 442 Subtopics as s uggested by Donald Morgan. Qtd In Reich, Economist Keynes, 3 Qtd In John Maynard Keynes. The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty. 5 June 2011. . Ibid Hicks, J. R. Mr. Keynes and the Classics A Suggested Interpretation. Econometrica. Vol. 5, No. 2 (Apr., 1937), pp. 147-159 P. 147 Economics A-Z Economist.com. The Economist - World News, Politics, Economics, Business & Finance. Web. 22 May 2011. .