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 off value to the country
-Went against Adam Smith's theories
-USA, Japan, and Hitler's Germany all us this with success
-Governments should spend their way out of depression
-Borrow money to be repaid after economy recovers
-Deficit financing
-Projects should be off value to the country
-Went against Adam Smith's theories
-USA, Japan, and Hitler's Germany all us this with success
"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
-John Maynard Keynes
summary
John Maynard Keynes is widely held to be the most influential economist of the Twentieth Century, and his theories are still given great consideration in the governments of Australia, Britain, Canada, parts of Europe, and of course in the United States. He had theories on how government should spend their way out of recession so they can recover more quicker.