ECONOMICS IN PRACTICE : f John Maynard Keynes Much ofthe framework of modern macroeconomics comes from the works of John Maynard Keynes, whose General Theory of Employment, Interest and Money was published in 1936. The 6 1086 {F8nation was Valy prostate, On street comer, in homes, Hoovenstes (communities of makeshift shacks), _Yemilon unemoloyes sat heuntng thelr. Itwas the unemployment that was Rardst to bear. The CHAPTER 20. Introduction to Macroeconomics 481 following excerpt by Robert L. Heilbronee provides some insights into Keynes's life and work. stabi in deicato matters of international diplomacy, Buk his offel. comectness si. ot prevent rim from acqur= ing. @. knowledge of other. rusd,__-Europeen re iy cig eee e be a Left st with the a at a acc por ‘who tac S almost a dilttante 60 is sole: ‘The simple truth ‘sympathies for ee es ‘money he accumulatedia fortune 6f £500,000 by way of the most treacherove ofl foads torches: dealing intr “= national and Gommodities "More impressive yet, he had vertten his mathematics treatise on the sido, 9 ft ‘were, while engaged in Governmientigervice, nid he piled up his vate wealth byeenbling hiss for ony hat ant how a day.whie sbi abe But tele only a carlo his masses Ho was an ecmremst of causes Gamtbidae don vith al the danty = and erudton that go with sum" an appontmect... He man ae fo be Srtanenusy the daring ot th Bloomsbury set tho chor of BrtarYs mest avert gate rtlectualorliant, ‘and a0 the chawman of a ie insuraee company, a niche in, ti erly noted forts intelectual abandon, Ho was a itr of ng uid be further fr fend Churchil and a0 Barnard StaweandPatla, Pleat001 2) Hs came es sn | Maynard Keynes, ~Briish name ca = itaced ae ‘Will do Cahatgnes aa 1 as at te fed to think that arn ilies, and itis true 2 that his Own fathe Teo) ues eran thus touched each other in time, althougn ‘exert the prbfeundest influence on the philoso apielst system, could hardly have dlifered “another more ‘Marx Was biter, at Bay, heavy’ pointed: as weikrow:hs was the draftsman of ‘Doomed, Keynes loved lle and saled through it Buovalt, at fase, and consummate successful to becore th tect of Caridisn Viable. ses Sou eel ik fee chen a nea Sl Cops any Sab elv : {9 19886 Win tote: Belo 197988186, Roker Helbvonee A ge eee