A few days ago
Can some1 explain the economic ideas of J.M.Keynes??????
PLEASE
Top 3 Answers
A few days ago
Favorite Answer
he said:
the economy would not be able to restore itself without the government help.
that the government would have to help the economy by spending more money to build buildings and hire workers,
which generate more jobs for the people so that more money is earned for the economy.
Thus, the economy will keep expanding because there is constantly money being generated.
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A few days ago
John Maynard Keynes believed in pump priming. That was a method of putting money into the economy in order to stimulate growth of industry and employment during a depression. The results would be magnified because as more people got jobs they would have more money to spend and a cycle of spending with resultant increases in industry and employment would occur thus stimulating the economy to get out of a depression or a recession.
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A few days ago
Keynes was a capitalist, but he believed that natural boom and bust cycles of capitalism made the system often socially unacceptable, and left democratic societies ripe for the ideas of political extremists such as Nazis and communists.
His answer to this problem was for the government to temper both the booms and the busts of capitalism, to make capitalism more acceptable to the people, and to avoid the lures of dangerous dictators like Hitler, Lenin, or Stalin.
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