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He married Russian ballet dancer Lydia Lopokova in His father was economist and lecturer, John Neville Keynes. He began his civil service career as the clerk for the India Office, a division within the British government.

John Ranked on the list of most popular Economist. Also ranked in the elit list of famous celebrity born in United Kingdom. John Maynard Keynes celebrates birthday on June 5 of every year.

John Maynard Keynes Birthday Countdown 0 0 0. Let's check it out! He is also an emeritus professor of economics with the Naval Postgraduate School and a research fellow with the Hoover Institution at Stanford University.

He earned his Ph. John Maynard Keynes About the Author David R. Selected Works Indian Currency and Finance. Reprinted in Keynes, Collected Writings. The Economic Consequences of the Peace. New York: Harcourt, Brace, and Howe. A Tract on Monetary Reform. The Economic Consequences of Mr. A Treatise on Money. Actively scan device characteristics for identification.

Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. John Maynard Keynes was an early 20th-century British economist, known as the father of Keynesian economics. His career included academic roles and government service.

One of the hallmarks of Keynesian economics is that governments should actively try to influence the course of their nations' economies—especially to increase spending and lower taxes in order to stimulate demand in the face of recession.

His theories also address the causes of long-term unemployment. In his seminal work, The General Theory of Employment, Interest, and Money , Keynes became an outspoken proponent of full employment and government intervention. John Maynard Keynes was born in His early interest in economics was due in large part to his father, John Neville Keynes, an Economics lecturer at Cambridge University. His mother, one of Cambridge's first female graduates, was active in charitable works for the underprivileged.

Keynes' father was an advocate of laissez-faire economics , and during his time at Cambridge—after studying math, he joined the teaching staff in —Keynes himself was a conventional believer in the principles of the free market. He was an active investor in the stock market, as well. However, after the stock market crash and the resulting Great Depression , Keynes became more radical.

He came to believe that complete free-market capitalism was inherently untenable and that it needed to be reformulated—not only to function better on its own but to fight off competitors like communism.

As a result, he began advocating for government intervention as a way to curb unemployment and resulting recessions. He argued that a government jobs program, increased government spending, and an increase in the budget deficit would decrease high unemployment rates. The most basic principle of Keynesian economics is that if the level of investment throughout a country or a society exceeds its savings rate, it will promote economic and business growth.

Conversely, if the savings rate is higher than its investment rate, it will cause a slowdown and eventually a recession. This is the basis of Keynes' belief that an increase in spending would, in fact, decrease unemployment and help economic recovery. Keynesian economics also advocates that it's actually demand—and not supply—that drives production. At the time, conventional economic wisdom held the opposite: that supply creates demand. With this in mind, Keynesian economics argues that economies are boosted when there is a healthy amount of output driven by sufficient amounts of economic expenditures.

Keynes believed that unemployment was caused by a lack of expenditures within an economy, which decreased aggregate demand. Continuous decreases in spending during a recession result in further decreases in demand, which in turn incites higher unemployment rates, which results in even less spending as the amount of unemployed people increases. For him, prosperity liberated people to make their own choices and helped them to enjoy life. He saw his task as saving capitalism from itself.

Keynes would have abominated the nationalism, the philistinism, the bullying and the shallowly held prejudices of Margaret Thatcher. And yet, in one crucial respect, he was a proto-Thatcherite. There are individual men and women, and there are families. Individualism was the ineradicable core of his economic thinking.

Keynes was bisexual. They married in , when Keynes was 42 — his best man was the painter Duncan Grant , who had been the chief male love of his life. It proved a happy and fulfilling marriage.