Question

Can anyone please revise this essay for me? It is a essay about one economist, John Maynard Keynes, and about two and half double-spaced pages.

PS: if you know about Keynes, and you found out some information about him is wrong, please tell me, ill appreciate. However, it should be fine.

Answer 1

John Maynard Keynes
John Maynard Keynes was an influential economist of the twentieth Century, also the founder of Keynesian. John Keynes was born on June 5, 1883 in Cambridge, England. He was born in an economic family. He was the son of a Cambridge economics professor. He attended to the King’s College (Keynes, John Maynard). He studied the economic theory tutored by Alfred Marshall (J.M.K. Biography). After He resigned from India office, he went back to Cambridge and became an economics professor until 1915. During the teaching term, he created the political economic club after he got The Adam Smith Award (The Budding Economist). In the 1920s, Keynes published a series of books focused on the effects of state power and large economic trends, developing the idea of monetary policy as something separate from merely maintaining currency against a fixed peg. He argued that the economic system will not be recovered fast enough to attain the optimal level of production, saying that “In the long run, we are all dead” (Keynesian Economics). This is the blueprint of Keynesian Economic developed later on.
At the beginning, Keynesian Economic was against by Classical economist because of the different point of views to economy. Keynesian Economic promotes a mixed economy, where both the state and the private sector play an important role (Keynesian economics). And Classical economic prefer that free markets can regulate themselves if left alone, free of any human intervention (Patil).
At 1936, John Keynes published his most famous book to the world, “The General Theory of Employment, Interest, and Money”. In this piece, he explained his view on the Great Depression, and some suggestion on wages and spending, excessive saving, and active fiscal policy. Keynes argued that it is better to set up laws and wage contracts to avoid cut wage, unlike classical economists, who preferred to abolish these labor guarantee. It is benefited of maintain the market demand, so that companies can keep making profit.
Meanwhile, he argued that excessive saving is a serious problem which may cause to the falling of consumer demand. Many classical economists wanted to balance the government budget by reduce expense or increase tax. He suggested allowing state power to get involved in order to deal with unemployment problems by loosening rein of being unbalance government budget. However, as Martinfrost.ws reported, there are disadvantage after doing this, said that:
“… first, it would increase the demand for labor and raise wages, hurting profitability. Second, a government deficit increases the stock of government bonds, reducing their market price and encouraging high interest rates, making it more expensive for business to finance fixed investment. Thus, efforts to stimulate the economy would be self-defeating. Worse, it would be shifting resources away from productive use by the private sector to wasteful use by the government.” (Keynesian Economics)
Based these disadvantages, it is no surprise that why classicals would say it is a fiscal madness policy.
Even so, Keynes’s policy ideas were widely accepted during post-WWII years. Government was allowed to prepare good quality economic statistics on an ongoing basis and a theory that told them what to do (Keynesian Economics). In 1936s, the Investment Saving-Liquidity Preference Money Supply (IS-LM) model born, which was developed, by a group of economists, based on Keynes’ original analysis. And even, it has as much influences as Keynes’ copy. This model determines actual policy and economics education (Keynesian Economics). Later, in the 1960s, President Kennedy and Lyndon Johnson were the politicians who supported and used this theory to explain, predict, and come up solutions, cut tax, to end the high level of unemployment.
While Classical economists rapping about the term, “long-run”, John Keynes argued that short-run is more important in certain period of time. It is a concept of “no present, no future”. The Keynesian Economics of school widely known because of an element. The theory stresses on the importance of measures for the best functioning of the economy, such as government spending, tax breaks and hikes, etc.(Patil). In other words, It just created right at a time of Great Depression when people willing to seizing any reasonable opportunity to recovering the situation.

Answer 2

You should post this into the writing section on here.

Answer 3

I'd help you but I have my own work to do for now. In the writing section, I'm sure they'll be more than happy to help you there.

Answer 4

ok thx, ill post it on writing section.

Answer 5

I just know there is a writing section :P cuz normally, writing is part of english. XD