John Maynard Keynes
-British economist
-Believed that governments should spend their way out of the Great Depression (work projects). Borrow money to be repaid after economy recovers.
-Deficit financing (government funding of spending by borrowing)
-Projects should be of value to the country (Hoover Dam, interstates)
-Went against Adam Smith’s theories
-USA, Japan and Hitler’s Germany all use this with success.
-Believed that governments should spend their way out of the Great Depression (work projects). Borrow money to be repaid after economy recovers.
-Deficit financing (government funding of spending by borrowing)
-Projects should be of value to the country (Hoover Dam, interstates)
-Went against Adam Smith’s theories
-USA, Japan and Hitler’s Germany all use this with success.