John Maynard Keynes
Notes
- 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 theories
- USA, Japan and Hitler’s Germany all use this with success.
Summary
John Maynard Keynes was a British economist, that had many great ideas that helped the USA. He thought that the government should spend their way out of the depression, by borrowing money to pay back after the economy recovered. one of his best ideas was deficit financing, which was used to help bring banks back. USA, Japan, And Hitler's Germany all used this philosophy
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Quote
"Words ought to be a little wild, for they are the assault of thoughts on the unthinking."
- John Maynard Keynes
- John Maynard Keynes
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Subjunctive Question
Why do you think Hitler also used this Philosophy?