John Maynard Keynes
- British economist
- Believes that governments need to spend their way out of the depression
- Borrow money to be repaid after economy recovers
- Deficit financing
- Projects should aid the country in some way
- Exact opposite of Adam Smith's theories
- U.S.A, Japan, and Germany all use this with success
A British economist who believed that in order to make money, you must spend money. Government borrows money to create "Make Work Projects." Employees funded by this, then pay their taxes back.
- Believes that governments need to spend their way out of the depression
- Borrow money to be repaid after economy recovers
- Deficit financing
- Projects should aid the country in some way
- Exact opposite of Adam Smith's theories
- U.S.A, Japan, and Germany all use this with success
A British economist who believed that in order to make money, you must spend money. Government borrows money to create "Make Work Projects." Employees funded by this, then pay their taxes back.