Economist

John Maynard Keynes

John Maynard Keynes

Born:

John Maynard Keynes, who was British economist of 20th century born on 5 June 1883, In Cambridge, Cambridgeshire, England.

Family Background:

His father John Neville Keynes, who was an economist and lecturer in moral science. His mother Florence Ada Keynes, who was the local social reformer. He had two siblings. John came from upper-middle class family.

Personal Life:

In 1921, John married Lydia Lopokova, who was well known Russian ballerina and star of the Sergei Diaghilev’s Ballets Russes.

Education:

He started his school education at the age of five and a half. In 1892, He entered the St Faith’s Preparatory School. He was excellent in mathematics. In 1897, He earned the scholarship at Eton College. In 1902, He won another scholarship, which led him to move the King’s college. In 1904, He completed his graduation in Bachelor’s degree in Mathematics.

Career:

In 1906, Keynes had started his career in civil service as a clerk at the India Office. He enjoyed his work initially, In 1908, He had resigned from his duty and return to Cambridge. At Cambridge, He had started to work on probability theory. In 1913, He published his first book ‘Indian Currency and Finance.’ With the starting of World War I, Keynes had been called on by the British government for his expertise. In 1915, He had accepted a post at the Treasury. His sharp insight and strong acumen helped him work his way up to the bureaucracy. In 1919, He had been appointed the financial representative for the Treasury to the 1919 Versailles peace conference. Keynes had been completed his A Treatise on Probability before the war, but it had published it in 1921. In the 1920s, Keynes had been started a theoretical work to examine the relationship between unemployment, money, and prices back. The word, Treatise on Money, had been published in 1930 in two volumes. In 1936, Keynes had come up with his magnum opus, which titled ‘The General Theory of Unemployment, Interest, and Money.’ This book had come at a time when the unemployment rate was over 20 percent in Britain. John Maynard Keynes had been filled up a vacancy in the Court of Directors of the Bank of England and carried out a full term from the following April, In 1941.

On 21 April 1946 at the age of 62, He died, In Tilton, near Firle, Sussex, England.

Unknown Facts:

  • In 1907, In British civil examination, He received the second best grade.

Master Stroke:

  • In 1909, He had published his first economic article in the “Economic Journal”.
  • He had founded the political economy club.

Awards and Achievements:

  • In 1917, John Maynard Keynes was appointed Companion of the Order of the Bath for his wartime work, On the King’s Birthday Honours.

What can we learn from him??

Like, John Maynard Keynes, do hard work to beat your opposition. never disappoint in any failure, because failure is the first step to success.

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