Notes
-British economist
-He believed that in order to beat a depression you need to spend your way out
-Deficit financing
-Borrow money that will be repaid after the economy recovers
-Went against Smiths economic thoughts
-British economist
-He believed that in order to beat a depression you need to spend your way out
-Deficit financing
-Borrow money that will be repaid after the economy recovers
-Went against Smiths economic thoughts
Summary
Keynes was an economist that believed that the only way to fix economic downturn is to go further into debt in order to get out.
Quotes
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
John Maynard Keynes
Subjunctive Question
Could the concepts of Adam Smith been more beneficial at this time?
Keynes was an economist that believed that the only way to fix economic downturn is to go further into debt in order to get out.
Quotes
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
John Maynard Keynes
Subjunctive Question
Could the concepts of Adam Smith been more beneficial at this time?