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bonufazy [111]
3 years ago
12

In a short paragraph, describe John Maynard Keynes's major economic philosophies and how his beliefs differed from economic theo

ries that were popular during the early years of the Great Depression.
History
1 answer:
Archy [21]3 years ago
8 0

John Maynard Keynes proposed that increasing government expenditures and lowering taxes would stimulate demand and pull the economy out of a state of depression. His approach sought to generate demand by having the government intervene to "jump start" economic activity. This differed from all the "belt-tightening" and restrictive approaches that others advocated. President Roosevelt's New Deal program sought to put Keynesian economic theory into practice.

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