(1883–1946)
an English economist whose ideas have had a great influence on modern politics and economics. He argued that governments could deal with the problem of a failing economy by spending more money on public projects such as roads, schools, etc. This was popular until the 1980s when it was argued that such a policy leads to inflation. Keynes also represented Britain in economic conferences after the two World Wars and helped to establish the International Monetary Fund . He was a leading member of the Bloomsbury Group and was made a lord in 1942.
► Keynesian n , adj
of or relating to the ideas of Keynes, especially regarding government control of a country’s economy through money and taxes:
Keynesian economics