John Maynard Keynes
- British Economists
- 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
A British economist who believed that in order to make money, you must spend money. Government borrows money to create "Make Work Projects." Employees funded by this, then pay their taxes back.
- 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
A British economist who believed that in order to make money, you must spend money. Government borrows money to create "Make Work Projects." Employees funded by this, then pay their taxes back.
“The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems / the problems of life and of human relations, of creation and behaviour and religion.”
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