Título: John Maynard Keynes
Seção: Second World War
Background: John Maynard Keynes, 1st Baron Keynes  ( KAYNZ; 5 June 1883 - 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. 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 and the founder of modern macroeconomics theory. 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.

Conteúdo: During the Second World War, Keynes argued in How to Pay for the War, published in 1940, that the war effort should be largely financed by higher taxation and especially by compulsory saving (essentially workers lending money to the government), rather than deficit spending, in order to avoid inflation. Compulsory saving would act to dampen domestic demand, assist in channelling additional output towards the war efforts, would be fairer than punitive taxation and would have the advantage of helping to avoid a post war slump by boosting demand once workers were allowed to withdraw their savings. In September 1941 he was proposed to fill a vacancy in the Court of Directors of the Bank of England, and subsequently carried out a full term from the following April. In June 1942, Keynes was rewarded for his service with a hereditary peerage in the King's Birthday Honours. On 7 July his title was gazetted as "Baron Keynes, of Tilton, in the County of Sussex" and he took his seat in the House of Lords on the Liberal Party benches. As the Allied victory began to look certain, Keynes was heavily involved, as leader of the British delegation and chairman of the World Bank commission, in the mid-1944 negotiations that established the Bretton Woods system. The Keynes-plan, concerning an international clearing-union, argued for a radical system for the management of currencies. He proposed the creation of a common world unit of currency, the bancor, and new global institutions - a world ce

user: What role did Keynes play in the Second World War?

assistant: Keynes was heavily involved, as leader of the British delegation and chairman of the World Bank commission,

user: What position did he hold?

assistant: Court of Directors of the Bank of England,

user: Was he instrumental in helping the government pay for the Second World War?

assistant: Keynes was heavily involved, as leader of the British delegation and chairman of the World Bank commission,

user: What method did he use to pay for the Second World War?

assistant: Compulsory saving

user: Was he praised for his work during the Second World War?

assistant: In June 1942, Keynes was rewarded for his service with a hereditary peerage in the King's Birthday Honours.

user: Was he appointed to a special position?

assistant: On 7 July his title was gazetted as "Baron Keynes, of Tilton, in the County of Sussex" and he took his seat in the House of Lords