John Maynard Keynes

Biography

British economist whose ideas fundamentally changed the theory and practice of macroeconomics and economic policies.

School of Thought

Keynesian Economics

Notable Quotes

On Innovation Cycles and Market Bubbles

"The difficulty lies not so much in developing new ideas as in escaping from old ones."

—John Maynard Keynes, The General Theory of Employment, Interest and Money (1936), p. viii, Palgrave Macmillan

On Innovation Cycles and Market Bubbles

"Markets can remain irrational longer than you can remain solvent."

—John Maynard Keynes, Attributed (1930)

On Labor Market Disruption from Automation

"In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again."

—John Maynard Keynes, A Tract on Monetary Reform (1923), p. 80, Macmillan