John Maynard Keynes
3
6.0
- proper noun
- /dʒɒn ˈmeɪnɑrd ˈkeɪnz/
- John Maynard Keynes is often quoted for suggesting that the markets can remain irrational longer than you can stay solvent.
- John Maynard Keynes the economist
Examples
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John Maynard Keynes believed that active government intervention is necessary to stabilize the economy.
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The theories of John Maynard Keynes have profoundly influenced modern economic policies worldwide.
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This is how John Maynard Keynes, one of the first generation of Bloomsbury, opens The Economic Consequences of the Peace, which he wrote in 1919 after recovering from a nervous breakdown following the war:
Academic text (1998) -
Many economic policies today are inspired by the ideas of John Maynard Keynes on managing employment and inflation.
Surface Forms
Morphology
John + Maynard + Keynes
This is a proper name referring to a specific historical individual (an economist), so the overall referent and biographical meaning cannot be derived from the literal constituent names. Knowing the words 'John', 'Maynard', and 'Keynes' does not give a B1 learner the information that this person advocated government intervention in the economy, so the expression is non-compositional and must be learned as a lexicalized referent.
Etymology
John Maynard Keynes was an English economist who said that when business slows and people lose work, the government should spend money to 'keep people working'. Think of a gardener watering plants so they do not die; this image helps explain why his name is used for ideas that support government action to protect jobs and 'limit inflation'.