Keynesian Revolution

The classical economic theory of the Keynesian revolution believes that the "free market" economy is a comprehensive employment equilibrium and is a "self-regulating" system that tends to bring the best economic benefits to all people. Therefore, the best government economic policy is "to forgive ourselves", to provide maximum freedom for individual business. An important element of the Keynesian Revolution proves that these fundamental assumptions are theoretically and practically wrong and the most appropriate government macroeconomic policy treats the entire economy as a large enterprise It is to claim that there is overall management

The Keynesian Revolution was associated with the rise of Western modern liberalism after the war. As Keynes' idea became very popular as Adam Smith represented the ideal of classical liberalism, some scholars pointed out that Keynes represents the ideal of modern liberalism. After the war, Winston Churchill attempted to examine the rise of British Keynes policy decision, and in 1945 strategy used a mixed economic rhetoric method. Churchill was welcomed as a hero of war, but his economic policy had overwhelming victory from Clement Atree who was continually being influenced by Keynesian thought.

The Keynesian revolution is often seen as a major change in macroeconomics. According to John Kenneth Galbraith, Say's law dominates the economic thought of more than a century before Keynes and it was difficult to switch to Keynesianism. Economists who violate the law suggest that unemployment and under investment (and over investment) are virtually impossible and they may lose their careers. In his wonderful work Keynes quoted one of his predecessors, John A. Hobson, who repeatedly refused to serve at college for his heresy theory.

John Maynard Keynes is undoubtedly a major figure in economics of the 20th century. His reputation transcended His most recognized work, "General Theory of Employment, Interest, and Money" (1936), it caused the Keynesian Revolution and the other his work, especially the "Papers on Probability" . Year) and "money theory" (1930). He is an economist, politician, journalist, art collector, collector and art patron. In "Economic consequences of peace" (1919), he criticized the Peace Treaty between Versailles (1919) and Germany. This made him famous overnight, effectively voiding the public's support for the treaty. During the crisis of the 1920s, he regarded conservative economic policy as the cause of British economic problems. From this point, he developed a new theory of income determination