John Maynard Keynes
Important guy.
British economist
Government should spend their way out of Depression
Borrow money to be repaid after economy recovers (spend your way out of depression)
Deficit financing!!! Important aspect.
Projects should be of value to the country. (hoover dam, interstate highways etc..)
Went against Adam Smith's theories
USA, Japan and HItlers Germany all uses his theory with this success.
Hitler was a monster but economically in the 1930's he made some big successes. His equivalent of the interstate highway was the auto-bon system. He created this system for army purposes. Hitler uses them for the wrong purposes but economically there are similarities.
British economist
Government should spend their way out of Depression
Borrow money to be repaid after economy recovers (spend your way out of depression)
Deficit financing!!! Important aspect.
Projects should be of value to the country. (hoover dam, interstate highways etc..)
Went against Adam Smith's theories
USA, Japan and HItlers Germany all uses his theory with this success.
Hitler was a monster but economically in the 1930's he made some big successes. His equivalent of the interstate highway was the auto-bon system. He created this system for army purposes. Hitler uses them for the wrong purposes but economically there are similarities.