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Introduction He hardly seemed cut out to be a workingmans revolutionary a graduate of Englands exclusive Eton prep school a collector of modern art and a graduate of Cambridge University nonetheless he transformed the dismal science into a revolutionary engine of social program Before Keynes economists were gloomy naysayers Nothing can be done Dont interfere It will never work but Keynes was an optimist Of course we can lick unemployment The economic problem is not if we look into the future the permanent problem of the human race he wrote Keynes took a totally new view to economics he was one of the first economists to argue convincingly that governments should take measures to counter a depression His ideas helped shift emphasis away from laissez-faire The economic theory that maintains that government should not interfere in economic affairs Keynes was born in Cambridge and later served in the British treasury from 1915 to 1919 It was from this date that Keynes became internationally prominent He wrote The Economic Consequences of the Peace This book attacked the reparation which the Allies demanded from the defeated Central Powers after World War 1 and predicted the breakdown of the Versailles peace settlement During the 1920s when England had serious economic difficulties Keynes wrote a series of books and essays which attack the economic polices of the government and laid the basis for his great book of 1936 The General Theory of Employment Interest and Money This book marked a completely new departure in economics He explained how recessions happen and how governments can act to avoid them Some of Keynes other works include A Tract on Monetary Reform 1923 The End of Laissry Faine 1926 and A Treatise on Money 1930 In these works Keynes explained many of his ideas of which many contributed to the development and growth of Europe in the second half of this century To see how his ideas helped Europe we will
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