What Would Keynes Do?: How the Greatest Economists Would Solve Your Everyday Problems

Get life advice and a crash course in economics from the great minds of every generation. John Maynard Keynes was a giant in the world of economic theory and policy, so influential that an entire school of modern thought bears his name. In Keynesian economics, governments and banks have an importan [...]
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Get life advice and a crash course in economics from the great minds of every generation. John Maynard Keynes was a giant in the world of economic theory and policy, so influential that an entire school of modern thought bears his name. In Keynesian economics, governments and banks have an important role, but free capitalism is king: people work to earn money; businesses pay people to work; people spend their money and support businesses. What Would Keynes Do? uses 40 examples of everyday life challenges to explore Keynes' theories and those of the other great social and economic theorists, such as Adam Smith, Milton Friedman, and John Forbes Nash Jr. In the process, we get a crash course in economics and obtain guidance on making difficult decisions. For example: Should I park in an illegal parking space and risk a fine? Should I go to university or start working straight away? Should I leave all my wealth to my children after I die or spread it out over my life? Should I ever commit a crime? If I enjoy drinking beer, how much should I drink? Is it OK to be selfish? Should I vote for a political party which promises to raise taxes? Informative accessible text and quirky illustrations, including humorous caricatures, leave readers with a better grasp on economic philosophy, from Malthusian and Mills' political economy to why John Locke did not believe in interest rates. They will learn about Marxism, Libertarian Socialism, Populism and other important schools of philosophy -- and how they lend insight into coping better with the challenges of modern life. With What Would Keynes Do? you just turn to the question troubling you and the great economists will tell you what they would do.