John Maynard Keynes is the father of modern macroeconomics, modern social liberal economics, and generally Keynesian economics and it’s various offshoots. Keynesian economics, and it’s offshoots, are the basis of modern economics. The rival school of economics is classical economics which arises from the other father of modern economics Adam Smith. Keynesian economics can be summed up as approving of government intervention in the free-market, the most famous first example of Keynesian economics in action is FDR’s New Deal.

Factoids tagged with "John Maynard Keynes"

Sir Isaac Newton Was an Economist Fact

Sir Isaac Newton is best known for his laws of motion and gravity, but he was also an economist of sorts serving as Britain’s Warden/Master of the Mint (from 1696 until his death in 1727).

Blog Posts tagged with "John Maynard Keynes"

What is Social Liberalism?

Social liberalism is the ideology of collective liberties and rights that favors social welfare and justice. It comes in a political and economic form.

Neoliberalism Explained

Neoliberalism is an economically-minded evolution of classical liberalism focused on deregulation, trade, and the private market. It is a “middle way” or “third way” between liberalism and conservatism.

The Secret Life of Isaac Newton

Isaac Newton produced many well-known works in math, astronomy, and physics, but he produced about as many unpublished works which dealt with theology, alchemy, and the occult.

The Basic Types of Political Parties

On this page, we look at political parties from a historical perspective to better understand the underlying left-right politics all political parties are based on.

What is “the Invisible Hand”?

“The invisible hand” is a term used by Adam Smith to describe the theory that self-interest leads to social and economic benefits in a free-market.