John Maynard Keynes

Definition

John Maynard Keynes was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He is best known for his development of Keynesian economics.

Related terms

Macroeconomics: The branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

Great Depression: A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

New Deal: A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939.