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 theories - USA, Japan, and Nazi Germany all used with success "The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems - the problems of life and of human relations, of creation and behavior and religion."
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Economist from England, proposed spending money to get out of depression. Called deficit financing, contradicted Adam Smith's theories, but worked. Used successfully in other countries, as well.
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