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 Smiths theories
- USA, Japan and Hitler's Germany all use this with success.
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Summary
John replaced Roosevelt after he died. He thought that the government should spend there way out of the depression.
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Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone. - Keynes