Keynes and his effect on Europe

Introduction: He hardly seemed cut out to be a workingman’s revolutionary, a graduate of England’s exclusive Eton prep school, a collector of modern art and a graduate of Cambridge University, nonetheless he transformed the dismal science into a revolutionary engine of social program. Before Keynes economists were gloomy naysayer’s. “Nothing can be done” “Don’t interfere” “It will never work”, but Keynes was an optimist. “Of course we can lick unemployment!” The “…

…in order to maintain optimum employment rates has lead to the modern welfare system. The way in which these ideas have helped Europe can be seen today in its continuing economic growth and stability. “The General Theory”, as it is known also founded modern macroeconomics, and virtually all of the work in that field emerges from Keynes work, if not positively as extensions and adaptation, then negatively as criticism or the extension’s of criticism.