Notes
- British ecnonomist
- 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
Summary
John Maynard Keynes invented this economic theory to help a country get out of Depression. Counties in Depression should spend their way out of it: borrow money, deficit financing, and projects should be of value to the country.
Quotes
"The importance of money flows from it being a link between the present and the future." - John Keynes
Subjunctive Questions
How well could of Franlkin Roosevelt governed the country if he did not base his actions on John Keynes theories?