i) The Greatest Economist: John Maynard Keynes (1883-1946)
             Keynes went to Eton (as a scholar) and then went to King's College of Cambridge to study Classics and Mathematics. In 1911 he was the editor of the Economic Journal - Britain's foremost economics publication. He also acted as an advisor to a number of companies. In the Second World War, he made his peace again with the Treasury. As a result he was instrumental in providing the framework for post-war economic recovery.
             Keynes is perhaps the best known of all economists. There are two main reasons. The first is that his work perhaps changed the whole face of post-war economic policy. The second reason was concerning his fame. He is perhaps the only economist to have a whole branch of economics named after him. His main contribution to the economics debate of that time was
             putting together a coherent critique of the existing classical economic theory that dominated policy-making circles.
             In the General Theory, Keynes challenged the Classical orthodoxy. He claimed that a slump was not a long-run phenomenon that we should leave the markets to sort out. A slump was simply a short-run problem attributing from a lack of demand. The focus of the short run policies was summarized by one of his best known quotes 'In the long-run we are all dead'
             He believed that the government should actively intervene in the economy to control the level of demand. These policies are often known as ø§emand management policies?or øounter-cyclical demand management policies? They are termed because the government should be doing the exact opposite to the trade cycle. When economic activity is depressed, the government should spend more and vice versa. This theory is still influential in economies today.
             However, the achievement he is best known for was his book published in 1936 ø-he General Theory of Employment, Interest and Money? It is often cons
             ...