For Father’s Day, let’s celebrate John Maynard Keynes (pronounced “Cains”) who is recognized as “the Father of Macroeconomics” and the most famous economist of the 20 th Century. His revolutionary theories that demand dictates supply and that governments should spend money to avoid recession and depression gained widespread acceptance during America’s Great Depression and was adopted by most of the world’s leading economies by 1950. Some economists believe that his theories “saved capitalism.” While Keynesian thought fell out of favor, his ideas are discussed and debated today, as governments battle financial crises. Born in Cambridge, England, he was also a philosopher, public servant, and the author of several books, including his magnum opus, The General Theory of Employment, Interest and Money (1936). Initially, he was openly homosexual and as a member of the famed Bloomsbury Group of artists and intellectuals, was unafraid to celebrate sexual freedom, as his outspoken diaries demonstrate. Although Keynes fell in love with and married the ballerina Lydia Lopokova in 1925, leading a seemingly heterosexual life until his death, his earlier gay experience has been credited with shaping his charm, personality and world view.
“The difficulty lies in not so much developing new ideas as in escaping from
old ones.” John Maynard Keynes
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