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 of value to the country
-Went against Adam Smith’s theory
-USA, Japan and Hitler’s Germany all use this with success.
"The difficulty lies not so much in developing new ideas as in escaping from old ones."
-John Maynard Keynes
-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 theory
-USA, Japan and Hitler’s Germany all use this with success.
"The difficulty lies not so much in developing new ideas as in escaping from old ones."
-John Maynard Keynes