John Maynard Keynes and His Contribution to Economics and America Essay

IntroductionWith the recent turning point John Maynard Keynes and his theories are being debated by millions of Americans, though likely without their knowledge, as his theories have become integral to Americas stinting policy. A search of John Maynard Keynes on Google news, limited to just the past week, yields more than than 200 results, illustrating the scope of Keynes continued influence. Fueled by concerns over un concern and ostentation the debate rages over governments role in the economy, including ordination of industry, tax rates, and government spending to stimulate the economy. What people are unfeignedly arguing over are the merits of supply-side economic versus demand-side. Keynes or Keynesian economic science is based on the notion that government can boost battle or cut inflation by manipulating the demand side of the economyincreasing government spending and expanding the money supply to boost employment and doing just the opposite to hold down inflation. Th e two decades between 1919 and 1939 had seen immense economic instability. The economic troubles were being experienced both at radical and abroad. In addition to the unemployment plaguing America and other major capitalist industrial nations--Britain, France, and Germany there was also nightmare inflation, collapsing banks, and agrarian and industrial devastation. The start of this economic collapse coincided with the end of World contend I and the accompanying field pansy treaty.Keynes, a British economist had been advising his government throughout World War I, including The Paris Peace Conference. He entered the international scene of economics with his 1919 give-and-take titled, The Economic Consequences of the Peace. The book captured his views following the Treaty... ...s, 1989. Print. (432) Ibid, 432 What Was the New Deal? Franklin D. Roosevelt - American inheritance Center, Inc. 2006. Web. 21 May 2011. . Hofstadter, The America Political Tradition, 442 Subtopic s as suggested by Donald Morgan. Qtd In Reich, economist Keynes, 3 Qtd In John Maynard Keynes. The Concise Encyclopedia of Economics. 2008. subroutine library of Economics and Liberty. 5 June 2011. . Ibid Hicks, J. R. Mr. Keynes and the Classics A Suggested Interpretation. Econometrica. Vol. 5, No. 2 (Apr., 1937), pp. 147-159 P. 147 Economics A-Z Economist.com. The Economist - World News, Politics, Economics, Business & Finance. Web. 22 May 2011. .