This man said that "we have reached the third degree" of considering the results of a hypothetical beauty contest in order to describe rational agents in a market. A work titled "[this man] and the Classics" attempted to describe his magnum opus with the IS/LM model. He developed the consumption function, which contributes to aggregate demand in hi
This man said that "we have reached the third degree" of considering the results of a hypothetical beauty contest in order to describe rational agents in a market. A work titled "[this man] and the Classics" attempted to describe his magnum opus with the IS/LM model. He developed the consumption function, which contributes to aggregate demand in his namesake cross diagram. He also argued against high reparation payments for Germany in his The Economic Consequences of the Peace. For 10 points, name this economist who wrote The General Theory of Employment, Interest, and Money and argued for deficit spending during economic crises.
This man said that "we have reached the third degree" of considering the results of a hypothetical beauty contest in order to describe rational agents in a market.
John Maynard Keynes 