JOHN MAYNARD KEYNES
- British Economist
- His theories were put into practice by governments
- Governments should spend their way out of Depression
- Deficit financing
- Borrow money to be repaid after economy recovers
- 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.
- His theories were put into practice by governments
- Governments should spend their way out of Depression
- Deficit financing
- Borrow money to be repaid after economy recovers
- 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.
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"The market can stay irrational longer than you can stay solvent"
- John Maynard Keynes
- John Maynard Keynes
Summary
Composed a theory that countries should spend their ways out of a recession or depression; deficit financing.