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.
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
A British economist that suggests the government should spend money to be repaid after the economy recovers. This is called Deficit Financing.
Subjunctive question
Should the government have invested in more work projects even if they weren't of use?
Quotes
The importance of money flows from it being a link between the present and the future.
John Maynard Keynes
John Maynard Keynes