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Who was the first economist to put forward the problem of insufficient consumer demand?
John Maynard Keynes (John Maynard Keynes,1883-June 5, 65438+April 265438+0,0946), a British economist, is expected to be adopted. Keynes was born into the family of a university professor. His father john neville Keynes is a lecturer in philosophy and political economy at Cambridge University, and his mother Florence Ada Brown is a successful writer and one of the pioneers of social reform. He entered the Persian school at the age of 7 and entered the preparatory class of St. Fez College two years later. A few years later, his genius was gradually revealed, and he graduated with the first prize in mathematics 1894. A year later, he was admitted to Eton College, and won the math prize twice in succession with 1899 and 1900. He graduated first in mathematics, history and English. 1902 successfully won the scholarship of King's College, Cambridge University. 1902 entered Cambridge University to study mathematics, and later studied economics under Marshall, which won Marshall's appreciation. 1906- 1908 works in the Indian affairs department. 1908 has been teaching at Cambridge university so far. 19 12- 1946, editor-in-chief of economics magazine. 1913-1914 was a member of the Royal Finance and Monetary Committee of India. 1915-1919 served as an adviser to the British Treasury. 19 19 attended the Paris peace conference as the chief adviser of the Ministry of Finance, and was famous for writing Economic Consequences of Peace in the same year. Bank of England directors from 194 1. 1942 was named Baron Tilton. 1944 Attending the Bretton Woods Conference. He explained the change of economic phenomenon from the change of money quantity for a long time, and advocated managing money to stabilize capitalist economy. 1929- 1933 after the world economic crisis, he put forward the theory that the cause of unemployment and economic crisis is insufficient effective demand, and advocated that the state should comprehensively regulate economic life. His economic theory has a wide influence in western countries and is called "Keynesianism". Keynes is one of the most influential figures in economics. His main work "General Theory of Employment, Interest and Money" was published in 1936, which caused a revolution in economics. This book has a far-reaching impact on people's views on the role of economic and political power in social life. Keynes put forward a general theory about the level of production and employment. Its revolutionary theory is mainly about the equilibrium under the condition of involuntary unemployment: when the effective demand is at a certain level, unemployment is possible. Contrary to the classical economics school, he believes that a simple price mechanism cannot solve the unemployment problem. By introducing instability and expectation, a monetary theory based on liquidity preference tendency is established: the introduction of the concept of marginal effect of investment overturns Say's law and the causal relationship between deposit and investment. These thoughts provide a theoretical basis for the government to intervene in the economy to get rid of economic depression and prevent economic overheating, and create the basic ideas of macroeconomics. Keynes made great contributions to economics all his life and was once known as the "savior" of capitalism and the "father of post-war prosperity". Keynes was not only a theorist, but also a practitioner. He once worked in the Indian Affairs Department of the British Treasury, served as an economics lecturer at the Royal College of Cambridge University, founded the Political Economy Club, won the Adam Smith Award for his original work "Index Compilation Method", served as the editor-in-chief of the Journal of Economics, served as a member of the Royal Indian Monetary and Financial Committee, served as the secretary of the Royal Economic Society, and was a representative of the Paris Peace Conference of the British Treasury. He presided over the work of the British Financial and Economic Advisory Committee, attended the Bretton Woods United Nations Monetary and Financial Conference, and served as the International Monetary Fund and the International Monetary Fund. His major works include Indian Money and Finance (19 13), Monetary Reform (1923), Monetary Theory (Volume II, 1903) and General Theory of Employment, Interest and Money (/kloc). More details are here.