John Maynard Keynes

John Keynes was born in Cambridge, England. His father was an Economist, and helped him pass his scholarship exams for university. At first he became famous after publishing article about recent economic downturn in India.

During the first world war, Keynes has been against the idea of suspension of specie payments, as it would ruin the future repuation of the city. He was also in charge of aqusition of foreign currencies, and his idea was to sell all spanish pesetas he amassed and thus making them less scarce and expensive.

During the great depression, Keynes was trying gind the connection between undemployment, money and a price. His main idea was published in a book called "Treaty of monarchy"  where he described that if the amount of money being saved exceeds  the amount being ivested then unemployyment will rise.

During the second world war Keynes wanted to apply "compulsotry savings" where workers would loan money to the government. He was also trying to implement a higher taxation.