ABSTRACT

The Man Who Transformed the Economic World

Keynes was a British economist and one of the most influential of the 20^th century .Following the outbreak of World War One, Keynes joined the treasury, and in the wake of the Versailles peace treaty, he published ‘The Economic Consequences of the peace ‘in which he criticized the exorbitant war reparation demand from a defeated Germany and prophetically predicted that it would foster a desire for revenge among Germans. This best –selling book made him world famous. During the inter-war years, Keynes amassed a considerable personal fortune from the financial markets and, as bursar of king’s college, greatly improved the college’s financial position. He became a prominent arts patron and board member of a number of companies. In 1926, he married Lydia Lopokova, a Russian ballerina.  Keynes’ best-known work, ‘the General theory of Employment, Interest and Money”, was published in 1936, and became benchmark for future economic thought. It also secured his position as Britain’s most influential economist, and with the advent of world war Two, He again worked for the treasury. In 1942, he was made a member of House of Lords. During the war years, Keynes played a decisive in the negotiations that were to shape the post war international economic order. In 1944, he led the British delegation to the Breton woods conference in the United States. At the conference he played a significant part in the planning of the World Bank and International Monetary fund.  He wrote “the General Theory of Employment, interest and Money” during Second World War. He’s known as the Father of Macro.