Who is john m keynes in terms of ecinomics?

Answer 1

John Maynard Keynes was a British economist whose ideas fundamentally changed the theory and practice of economics in the 20th century. He is best known for his advocacy of government intervention to manage economic cycles, particularly during recessions. His seminal work, "The General Theory of Employment, Interest, and Money," introduced concepts such as aggregate demand and the multiplier effect, which emphasized the role of total spending in an economy. Keynesian economics laid the groundwork for modern macroeconomic policy and has influenced economic thought and policy-making worldwide.