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 countries
- Went against Adam Smith's theories
- USA, Japan and Hitler's Germany all use this with success.
Interesting Fact
Keynes wins Eton's Junior Mathematical Prize in 1898.
Quote
"Successful investing is anticipating the anticipations of others."
--John Maynard Keynes
--John Maynard Keynes
Subjunctive Question
What is the outcome when Governments do spend their way out of depression?
Summary
John Maynard Keynes was a British economist. He went against all of Adam Smith's theories. He believed in deficit financing and that governments should spend their way out of Depression. He thought that this should be done by borrowing money that would be repaid after the economy recovers. He said that projects should be of value to the countries, they should help the country when in need. This all was sucessful within the USA, Japan and Hitler's Germany.