Tuesday, December 16, 2008

John Maynard Keynes



portrait by David Grant

With the economy in the state it is in, I've been brushing up on the subject of economics and its recent history. I've noticed the brilliant British economist John Maynard Keynes (1883-1946) garnishing a lot of attention once again. Keynes is remembered for being outspoken, his associations with the Bloomsbury colony (group of avant garde artists and writers, including Virginia Woolf, David Grant, and Gertrude Stein, living in Bloomsbury, London during the early 20th century), serving as economic adviser to the Allies after the close of both World Wars, and for writing "General Theory of Employement, Interest and Money". His theories from this book support the plans to prop up the failing economy rather than balancing the deficit, which has become one of the most debated and important topics in recent history.