John Maynard Keynes: unusually for an economist, he did not think people were very rational

By Eugenio Proto, Alec Cairncross Professor of Applied Economics and Econometrics, University of Glasgow

When people think of John Maynard Keynes, who died 75 years ago on April 21, they probably think of his ideas about economic demand and how government spending is essential to emerge from a recession.

England’s most famous economist is renowned as the one-time civil servant and Treasury adviser whose thinking dominated economic policy in the middle decades of the 20th century. He died at the age of only 62 after leading marathon negotiations for the UK over the post-war international…

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