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Ubiquitous in modern Western economies, reviled by Marxists and the opponents of big government alike, Keynes' theories have become a main pillar of macroeconomics and as a result, Keynesian economics has had a profound effect on monetary policy in the Western world.
This paper provides a brief overview of how Keynesian thought and economics have affected policy and become fundamental tenets of macroeconomics. I will present the formative events and applications of Keynes's theories in chronological order, starting at the end of World War I and finishing at the present day. I will discuss how Keynes' theories have been adapted to include more and more microeconomic insights as well as some of the criticisms aimed at his work
The Treaty of Versailles
Keynes rise to prominence began when he was selected to be a delegate at the Paris Peace Conference of 1918-1919...
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