JOHN MAYNARD KEYNES
* 5th June 1883 in Cambridge, today United Kingdom
† 21st April 1946 in Tilton, today United Kingdom
John Maynard Keynes was a British economist, politician, and mathematician. He is one of the most important economists of the 20th century. The Keynesian economic theory is named after him and theorises that overall economic demand is the driving force for production and employment.
After the First World War, Keynes was the representative of the British delegation in Versailles, where he was involved in the peace negotiations with Germany. He resigned shortly before the conclusion of the negotiations in protest against the terms of the treaty. In 1919, he wrote the influential book The Economic Consequences of the Peace, which criticized the reparation payments imposed on Germany as being economically contradictory.
The beginning of the global economic crisis of 1929 made it clear that the economic theories which had hitherto prevailed could no longer explain economic realities. In 1936, Keynes published his General Theory of Employment, Interest and Money. This book permanently changed the concept of the Macroeconomy, and is often described as the most influential economic science work of the 20th century.
John Maynard Keynes had a seven year love affair in Paris with British painter Duncan Grant, and later married ballet dancer Lydia Lopokova. John Maynard Keynes was bisexual.