John Maynard Keynes
John Maynard Keynes was a really smart man who lived a long time ago. He was born in 1883 and died in 1946. He was an economist, which means he studied how people make, trade, and spend money.
He believed that governments should play a big role in making sure that the economy runs smoothly. He thought that when the economy is not doing well, the government should try to make it better by spending more money to create jobs and help people.
Keynes also thought that people could sometimes act in ways that were not good for the economy. For example, people might save too much money instead of spending it, which could lead to a decrease in demand for goods and services. He believed that this could cause a recession, which is when lots of people lose their jobs and the economy gets really bad.
To help prevent this from happening, Keynes said that the government could step in and spend money to get people working again. This would increase demand for goods and services and help the economy grow.
Overall, John Maynard Keynes was a really important figure in economics who believed that governments should play a big role in managing the economy and making sure that people have jobs and can afford the things they need.
He believed that governments should play a big role in making sure that the economy runs smoothly. He thought that when the economy is not doing well, the government should try to make it better by spending more money to create jobs and help people.
Keynes also thought that people could sometimes act in ways that were not good for the economy. For example, people might save too much money instead of spending it, which could lead to a decrease in demand for goods and services. He believed that this could cause a recession, which is when lots of people lose their jobs and the economy gets really bad.
To help prevent this from happening, Keynes said that the government could step in and spend money to get people working again. This would increase demand for goods and services and help the economy grow.
Overall, John Maynard Keynes was a really important figure in economics who believed that governments should play a big role in managing the economy and making sure that people have jobs and can afford the things they need.