Definition of John Maynard Keynes from the Oxford Advanced Learner's Dictionary


John Maynard Keynes

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(1883-1946) an English economist whose ideas have had a great influence on modern politics and economics. He argued that governments could deal with the problem of a failing economy by spending more money on public projects such as roads, schools, etc. This was popular until the 1980s when it was argued that such a policy leads to inflation. Keynes also represented Britain in economic conferences after the two World Wars and helped to establish the International Monetary Fund. He was a leading member of the Bloomsbury Group and was made a lord in 1942.