John M. Keynes

John Maynard Keynes was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He is best known for his advocacy of government intervention to stabilize economic fluctuations and for his seminal work 'The General Theory of Employment, Interest, and Money.' Keynes's theories, known as Keynesian economics, emphasize the importance of aggregate demand in influencing economic output and employment, particularly during times of economic downturn. His insights laid the groundwork for modern economic policies and influenced the establishment of international financial systems, including the Bretton Woods Agreement.