6 ideas from John Maynard Keynes, each explained in a minute and credited to the original work. Free on Savvy.
Saving more feels responsible for any one household in a downturn. But if everyone cuts spending at the same time, total demand falls, businesses earn less, and jobs and wages disa…
— John Maynard Keynes, The General Theory of Employment, Interest and Money
In 1936, Keynes compared professional investing to a newspaper contest where readers pick the six prettiest faces from a hundred photos, and the winner matches the average vote. Th…
— John Maynard Keynes, Keynesian beauty contest
John Maynard Keynes argued that money spent by government doesn't stop with its first recipient: a paid construction worker spends part of their wage at a shop, whose owner spends …
— John Maynard Keynes, The General Theory of Employment, Interest and Money
The 1919 Treaty of Versailles forced Germany to accept sole responsibility for WWI, pay enormous reparations, and surrender territory and its overseas colonies. British economist J…
— John Maynard Keynes, The Economic Consequences of the Peace
John Maynard Keynes described a scenario where interest rates fall so low that everyone would rather just hold cash than lend it out or invest it, since the returns aren't worth th…
— John Maynard Keynes, The General Theory of Employment, Interest and Money
If every household tries to save a larger share of its income, total spending in the economy falls, companies earn less, and incomes shrink — potentially leaving total savings unch…
— John Maynard Keynes, The General Theory of Employment, Interest and Money