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http://www.econlib.org/library/Enc/bios/Keynes.html

http://www.biography.com/people/john-maynard-keynes-9364200#synopsis

https://global.britannica.com/biography/John-Maynard-Keynes

http://www.imf.org/external/pubs/ft/fandd/2014/09/basics.htm

http://www.econlib.org/library/Enc/bios/Keynes.html

https://www.maynardkeynes.org/maynard-keynes-economics.html

http://www.investinganswers.com/education/economics/john-maynard-keynes-man-who-transformed-economic-world-621

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I would place myself among the greatest economists of the twentieth century. My insights changed our fundamental understanding of classical economics and shaped western economic policies for the rest of the 1900s. In addition, I basically created the field of macroeconomics with my work, while advising policies that brought the world out of the Great Depression.

My work on government intervention into the economy stated that in order to mitigate large upturns and recessions. My work turned away from non-interventionist approaches that believed the best way for a government to manage an economy was to leave it alone. I broke from this tradition because I found that individuals hoard their money during a recession, which further slows economic growth; and during upturns, people spend all of their money, which leads to an unmitigated increase.

The government has a large role to play in the economy by intervening before the economy spirals out of control into either large increases or decreases. This idea has had huge significance for governments in the half-century after my ideas were published. So-called Keynesian economics has guided western economic policy in the wake of the Great Depression and 2008 Financial Crisis.

Without a doubt, modern economics would not be the same without me.

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My ideology revolves around the idea that government spending should play a large role in the economy. Before I introduced my economic ideas, mainstream economics dictated that the free market would indeed provide a job for everyone that needed it. My ideas, however, were different. I proposed that the total consumption of households, governments, and businesses –known as the aggregate demand–would be main driving force of the economy.

I realized that the free market has no self-balancing mechanism, no way to reach full employment. Government intervention could act as the balancing mechanism.

In a recession, total consumer expenditure goes down, so it is up to the government to make up for what is missing.

The three main tenants of Keynesian economics are–

1. Total demand is influenced by many economic decisions that include public and private. Keynesian economics supports a mixed economy that includes the private sector but is partly operated with government intervention.

2. Prices respond slowly to changes in supply and demand

3. Changes in aggregate demand have their greatest short-run effect on real output and employment, not on prices.

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One of my first notable books was The Economic Consequences of the Peace (1919), in which I discussed the need for leniency on the defeated powers of Europe. I knew that harsh reparations against Germany would have disastrous effects in a globalized economy.

After the war I moved away from economics and into probability theory, contributing to the development of the field with A Treatise on Probability (1921). In 1922 and 23 respectively, I continued to criticize the effects of the Treaty of Versailles and the deflationary policies of European nations with A Revision of the Treaty and A Tract on Monetary Reform.

In 1930 I published A Treatise on Money, in which I began to derive my theory that economic activity is not merely the result of random occurrences within the market, but can be quantified as the difference between the spending and saving of consumers.

After the onset of the depression, I wrote my magnum opus:

The General Theory of Employment, Interest and Money. This book laid out the foundation of macroeconomics and set the course for governmental economic policies into the twenty-first century.

In This book, I identified demand as the key principle in determining employment and economic activity in general. I also identified the need for governments to step in and ease dips in the economy such as the Great Depression by borrowing and investing money to increase spending on the part of consumers.

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My name is John Maynard Keynes, and I was born on June 5th, 1883 to John Keynes and Florence Keynes. I was born in Cambridge, where my father was an economics lecturer. As a young boy, my parents sent me off to Eton College, where I would eventually earn my scholarship to Cambridge.

Initially, I wanted to study philosophy–but after I studied math and under the tutelage of Alfred Marshall–who coined the supply and demand curve–I started to pursue the field of economics. I was optimistic at the time–coaxed by my parents and my grandmother who told me that I could achieve anything that I put my mind to.

In 1908, I took on a lower level position in the British Treasury. 10 years later, I was negotiating the Treaty of Versailles. It was that moment that I resigned, knowing that the Treaty was too burdensome on the newly formed Germany. The country would collapse from the economic weight as they would perpetually stay poor from the remittances paid.

In the 1920s, the way I perceived the economy drastically changed. The Depression caused unemployment to skyrocket to 20%, and my research led to the publication of "The General Theory of Employment, Interest, and Money".

In 1925, I married Lydia. We lived a happy life. I continued to work on employment, publishing "The Means of Prosperity" to tackle global unemployment. A copy of the book was sent to Roosevelt, who implemented my policies to the New Deal, leading the country to great success.

During World War II, I wrote books about how the war should be financed primarily by higher taxes to prevent hyperinflation. When Allied victory seemed assured, I helped negotiate an end to the war.

In 1946, I died.