The economics of John Maynard Keynes

John Maynard Keynes, Baron of Tilton, has been one of the most controversial figures in twentieth century intellectual thought. This controversy has been of a practical as well as of a theoretical nature. It has extended from the realm of theory to that of policy and has affected "the man on the street." The reaction to Keynes may be characterized as overwhelming—some of it being overwhelmingly opposed to his ideas, and some of it overwhelmingly favorable. Characteristic of these opposed views, Drs. Swanson and Schmidt in their recent work have said: "The decade of the 1930’s was unparalleled in two respects. It gave us the worst depression on record and it brought a world of Keynesian ideas! Which crisis led to the greatest difficulties it is not easy to say...More than one student of the decade probably would contend that we could well have dispensed with both.