john maynard keynes
-British economist
-Governments should spend their way out of Depression
-Borrow money to be repaid after economy recovers
-Deficit financing
-Projects should be of value to the country
-Went against Adam Smith’s theories
-USA, Japan and Hitler’s Germany all use this with success.
-Governments should spend their way out of Depression
-Borrow money to be repaid after economy recovers
-Deficit financing
-Projects should be of value to the country
-Went against Adam Smith’s theories
-USA, Japan and Hitler’s Germany all use this with success.
sumery
At the height of the Great Depression, in 1933, Keynes published The Means to Prosperity, which contained specific policy recommendations for tackling unemployment in a global recession, chiefly counter cyclical public spending. Keynes believed the U.S needed to spend their way out the depression.
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