John Maynard Keynes

Date of Birth: June 5, 1883

Zodiac Sign: Gemini

Date of Death: April 21, 1946

Biography

John Maynard Keynes was a British economist who is widely regarded as one of the most influential figures in modern economic theory. Born in Cambridge, England, Keynes revolutionized the field of economics with his groundbreaking ideas on government intervention and the role of fiscal and monetary policy in stabilizing economies. His most famous work, “The General Theory of Employment, Interest, and Money,” published in 1936, laid the foundation for Keynesian economics and has had a profound impact on economic policy and thought. Keynes was born into an academic family; his father, John Neville Keynes, was an economist and his mother, Florence Ada Keynes, was a social reformer. He was educated at Eton and later at King’s College, Cambridge, where he excelled in mathematics. Keynes initially worked in the British Civil Service and later at the Treasury, where he played a significant role in shaping economic policies during and after World War I. His ideas gained prominence during the Great Depression, leading to widespread adoption of Keynesian economics in many Western countries. Throughout his life, Keynes was involved in various academic and policy-making roles, including serving as a director of the Bank of England and as an advisor to several British governments. He was also an influential member of the Bloomsbury Group, a circle of intellectuals and artists. Keynes married Russian ballerina Lydia Lopokova in 1925.

5 Interesting Facts about John Maynard Keynes

1. Keynes was a member of the Bloomsbury Group, an influential circle of intellectuals and artists, which included Virginia Woolf and E.M. Forster.

2. During World War I, Keynes worked for the British Treasury and played a critical role in the negotiations of the Treaty of Versailles.

3. He was an avid collector of books and manuscripts, amassing a significant library over his lifetime.

4. Keynes was also a passionate supporter of the arts, contributing to the establishment of the Arts Council of Great Britain.

5. He suffered from heart problems later in life, which ultimately led to his death in 1946.

5 Most Interesting Quotes from John Maynard Keynes

1. “In the long run, we are all dead.”

2. “The difficulty lies not so much in developing new ideas as in escaping from old ones.”

3. “Ideas shape the course of history.”

4. “Markets can remain irrational longer than you can remain solvent.”

5. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.”

Highest Net Worth Achieved

At the time of his death in 1946, John Maynard Keynes’s net worth was estimated to be around £500,000, which would be equivalent to several million pounds today, adjusted for inflation.