What were the formative experiences in the life of economist John Maynard Keynes? 🔊
John Maynard Keynes had formative experiences that influenced his economic theories and practices. As a student at Cambridge University, he was exposed to classical economics and the prevailing ideas of the time, including the Gold Standard. His experiences during the Great Depression prompted him to challenge traditional economic thought, advocating for government intervention to stabilize the economy. Keynes's revolutionary ideas on macroeconomics laid the groundwork for modern economic policies, particularly his advocacy for fiscal stimulus during economic downturns.
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