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John Maynard Keynes, 1st Baron Keynes, CB, FBA, was a British economist whose ideas fundamentally affected the theory and practice of modern macroeconomics and the economic policies of governments.
In the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands.
According to Keynesian economics, state intervention was necessary to moderate “boom and bust” cycles of economic activity.
However, the advent of the global financial crisis of 2007–08 caused a resurgence in Keynesian thought. Keynesian economics provided the theoretical underpinning for economic policies undertaken in response to the crisis by President Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and other heads of governments.
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Well its not working. The above story is like a drunk with a hangover, guzzling more beer in the morning for a remedy. Or using more inflation to cure the problems from inflation. There is new future coming. Natural forces of reversal of global integration are evolving. The Euro integration, Trump popularity, Israel losing influence, ISIS populism in the Middle East etc etc are some of the signs of reversal of all the crapola from after Stupid War I Stupid War II Vietnam and Korea etc.