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Keynes's Contribution to Economics
Classification: Education/Science >> Science and Technology

Problem description:

Including three aspects, I want to know which three aspects are specific? And its influence.

Analysis:

John maynard keynes (1883- 1946) is the most influential economist in modern western economics.

One. 1906- 1908 worked in the Indian affairs department of the British Treasury, and served as emperor of Cambridge University from 65438 to 0908.

Lecturer in Economics in a college, 1909 founded the Political Economy Club, which is famous for its original Index Compilation.

Methods > > and won the "Adam Smith Award". 1911-1944 Editor-in-Chief of Economics Journal,

1 913-1914 member of the royal monetary and financial commission of India and secretary of the royal economic society,1.

In 9 19, he served as the representative of the Paris Peace Conference of the Ministry of Finance, and 1929- 1933 presided over the British Financial and Economic Advisory Committee.

Work, 1942 was made Lord, 1944 attended the Bretton Woods United nations monetary and financial conference, and

He served as a director of the International Monetary Fund and the International Bank for Reconstruction and Development. 1946 died of sudden cardiac death.

63 years old. Keynes made great contributions to economics all his life and was once known as the "savior" of capitalism.

Father of post-war prosperity, etc. Keynes was born in an era when Usai's law was regarded as a god, and he agreed to rely on market supply.

Seeking the power to achieve full employment automatically can maintain the capitalist's point of view, so he has been committed to studying commodities.

Monetary theory.

1929 after the economic crisis broke out, he felt that the traditional economic theory was not in line with reality and must be broken through.

, so there is a 1933 "general theory of employment, interest and money" (hereinafter referred to as the general theory).

The General Theory has made a great breakthrough in economic theory.

First of all, it broke through the traditional employment equilibrium theory and established an economic equilibrium theory characterized by unemployment.

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Traditional neoclassical economics put forward the hypothesis of full employment with Say's law as the core. Do you think you can pass this price?

Adjust and realize the full utilization of resources, so as to exclude the macroeconomic problems of resource utilization from the scope of economic research.

Outside the cordon. "General Theory" criticized Say's law, acknowledged the existence of involuntary unemployment in capitalist society, and formally put it

Macro-economic problems of resource utilization have been put on the agenda.

Second, regard national income as the central issue of macroeconomic research.

The center of Keynes's general theory is to study the decision of total employment, and then to study the reasons for unemployment. admit

Because total employment is closely related to total output, and these are the characteristics of modern macroeconomics.

Third, analyze the decision of national income with the balance of total supply and total demand.

Keynes's General Theory holds that effective demand determines total output and total employment, and also uses total supply and total demand.

Function to illustrate the decision of effective demand. On this basis, he explained how to balance the whole economy with a set of equations.

Expression, how to explain the static conclusion by investigating the influence of the change of equation parameters on the solution of the equation?

Fruit. That is, he always explains national income and other macroeconomic decisions with the balanced relationship between total demand and total supply.

question

Fourth, establish a macroeconomic system with total demand as the core.

Keynes adopted short-term analysis, that is, assuming production equipment, capital, technology, etc. Constant, so the total supply.

It is the same. On this basis, it analyzes how the total demand determines the national income. Attribute the cause of unemployment to total demand.

Not enough.

Fifth, analyze the monetary theory of real economy and money.

Traditional economists divide economy into two parts: real economy and monetary economy, in which economic theory analyzes reality.

The decision of variables, while monetary theory analyzes the decision of prices, has little to do with them. This is called.

Dichotomy Keynes combined economic theory with monetary theory through the method of total analysis and established a set of production.

Monetary theory. In this way, the relationship between money and interest rate and its influence on the whole macro-economy are analyzed, so that both

These two theories combine to form a complete set of economic theories.

Sixth, criticize Say's Law, oppose the laissez-faire economic policy, and clearly put forward the direct intervention of the state.

The idea of economy.

Classical economists and neoclassical economists agree with laissez-faire economic policies, while Keynes opposes them.

Advocate direct state intervention in the economy. He demonstrated the necessity of direct state intervention in the economy and put forward more specific goals.

Mark; His thought of taking fiscal policy and monetary policy as the core later became the core of the whole macroeconomics, and even

It can be said that later macroeconomics was based on Keynes's general theory.

There is no doubt that Keynes was a great economist. He dares to break the shackles of old ideas and admit right and wrong.

The existence of voluntary unemployment put forward the idea of state intervention in the economy for the first time and made great contributions to the whole macroeconomics.

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Keynes was not only a genius in economic theory, but also a bold practitioner. It's easier said than done.

Difficult, but he still regardless of the risk, lost and earned, after all, better, indeed as expected fame and fortune.

One morning in London, a man woke up, but he was still lying in bed, disheveled. He's talking to his

The broker called to decide his huge speculative business, a university and a consortium.

This man is the famous economist Baron john maynard keynes, who not only started the research of macroeconomics.

Research positions (his two major works have brought him great and lasting reputation), and he has also served as university treasurer and

Chancellor, officials and consultants of Cambridge University. Baron Keynes was also a wealthy investor. Keynes's economy

Theory has influenced several generations, and it still plays an important role in the current economic policy making, and will continue to influence it.

Economic thoughts in the next few years.

Economists always introduce Keynes in this way: he was smart since childhood and was a famous economist. He and Russia

A beautiful ballet dancer in China got married and served as an adviser to the king and the president. In his spare time, he works for himself and his sword.

Hashimoto University has been a great success in speculating in currency and commodities. But in fact, many of these contents are purely fabricated.

What comes out is far from the actual situation.

Keynes's ancestors were English aristocrats, and his parents taught at Cambridge University. Keynes was their first child.

They paid a lot for him and placed high expectations on little Keynes. Keynes really lived up to expectations, from

After graduating from Eton Middle School (a famous preparatory middle school on the Thames), he obtained mathematics and mathematics from King's College (Cambridge University).

Classic works scholarship. 1905 graduated from Cambridge University, UK with a bachelor's degree in mathematics. 1906

Keynes passed the civil service examination and entered the Indian office of the Ministry of Foreign Affairs. Two years later, I applied for the mathematics major at King's College.

Researcher position, but failed.

Soon, Cambridge University offered him a researcher position to teach general economics, and this position has been retained until now.

He is dead. Among many courses taught by Professor Keynes, one is a weekly course on Indian money and finance.

. Before long, Keynes specialized in money, credit and value. During this time, he also wrote some books, mainly general remarks.

In terms of exchange rate theory, his first economic book is Money and Finance in India.

19 14, when the first world war broke out, the society was generally worried about the financial crisis.

Keynes, a problem expert, went to work in the Ministry of Finance. His first effort was to persuade the Prime Minister Lloyd George to keep the gold reserve.

. By the end of the war, Keynes had established a solid position in the Ministry of Finance and was sent abroad to deal with a series of gold.

Melting problem. When the Paris Peace Conference was held, Keynes participated in the peace talks on behalf of the British Treasury.

After the peace talks, Keynes resigned from the Ministry of Finance and wrote the book Economic Consequences of Peace. This book describes

Described some celebrities at that time, including Lloyd George, W Barking and invading Wei, who died while being injured.

Breeding? J Lu's noisy behavior is the title of cangue oboro overseas Chinese deer? ц Wharf straw? Why not send Xia? What color is it?

Walter Leapman compiled Keynes's works into a series, and Keynes paid the publishing fee, which was paid by Macmillan Company.

Publication. The book was printed in Edinburgh and then shipped to London. On the way, the ship was unfortunately wrecked, 2000 copies of "peace"

The economic consequence is being washed to Danish beaches by seawater. According to Danish law, books are auctioned locally. The book was finally translated into Chinese.

In many languages, about 654.38+0.4 million copies have been sold.

Keynes was the best person who could put theory into practice. While writing books, Keynes also engaged in currency trading.

According to his experience in the Ministry of Finance and his inspection in Germany after the war, he began to be optimistic about the dollar and bearish on the European currency.

, and established a series of currency positions with 10% margin trading. Soon he made a lot of money, and

I think I can see the market trend better than ordinary people.

1in April, 920, Keynes predicted that there would be credit inflation in Germany, and shorted the mark on this ground. this

The previous barrier has been falling, and now it is starting to rebound. In April and May, Keynes himself lost money 13 125.

His syndicate as a consultant also lost 8498 pounds. The brokerage company asked him to pay a deposit of 7000 pounds.

So he borrowed 5000 from an admirer and paid it back in advance 1500.

Pound, to pay. He admitted that he was bankrupt.

192 1 year, through writing, Keynes's economic situation improved and he began to speculate and trade commodities and stocks.

They are all traded with margin.

In 1924, Keynes invested 57,797 pounds, which increased by 506,450 pounds in 1937.

Established its own reputation in the securities industry. During this period, the average compound interest rate of Keynes's investment was 17%, which was favorable.

Although the profit is high, it is still not as good as the performance of conservative investor Warren Buffett.

Keynes's official biographer said that Keynes gave up speculation at 1937 because of his poor health.

In fact, by then, he has recovered and is in good health, and can continue to affect menstruation for the next nine years.

Economic and political development. However, biographies published in recent years point out that Keynes suffered heavy losses in the American stock market from 65438 to 0937.

Considering that the second bankruptcy may damage his reputation as the most famous economist in the world, he retired in time.

Break away from speculation.

In the book General Theory of Employment, Interest and Money, Keynes talked about his investment philosophy, and we can be appropriate.

It is called "beauty pageant theory" on land. How shallow is the lie payment? 00 candidate beauty photos,

The public chose four people from it. However, people don't vote for the person he thinks is the most beautiful, but choose the person he thinks is the majority.

Everyone thinks she is the most beautiful person.

Like many great financiers, Keynes was very bold and adventurous in major events, and supported him with a lot of money.

Hold a debate. But in small matters, he is very conservative.

Once, Keynes and a friend were on vacation in Algiers, Algeria. They invited a group of local children to work for them.

They shine shoes. Keynes paid so little that the children were so angry that they threw stones at them. His friend suggested that he give more money.

Later, Keynes, the greatest economist in the world, replied: "I will not devalue the value of money."

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