Caricature Portrait of John Maynard Keynes.

KEYNES, John Maynard [J.M.}.

$15,000.00

Item Number: 148438

London: The New Statesman and Nation, October 28,1933.

Rare caricature portrait of the “father of macroeconomics.” Pencil portrait print of John Maynard Keynes sitting in a chair next to a stool stacked with books and papers. Boldly signed by Keynes next to his facsimile signature on the lower margin. Portrait by Low for The New Statesman and Nation magazine dated October 28, 1933. Triple matted and framed. In near fine condition. The entire piece measures 16 inches by 20.25 inches. An exceptional piece, rare and desirable signed by Keynes.

John Maynard Keynes was a British economist, whose ideas fundamentally changed the theory of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles, and was one of the most influential economists of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. He argued that aggregate demand (total spending in the economy) determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment. Keynes advocated the use of fiscal and monetary policies to mitigate the adverse effects of economic recessions and depressions. He detailed these ideas in his magnum opus, The General Theory of Employment, Interest and Money, published in 1936.