"The Keynesian idea in itself is actually fairly simple: The market economy is inherently unstable, and recession and high unemployment are mainly the result of insufficient spending in the private sector. Therefore, to achieve full employment and sustained economic growth, the government needs to actively intervene to increase spending, if necessary through deficit financing.
Critics of Keynes pointed out problems with his theory relatively quickly."
New Library Topic: Keynesianism | Intellectual Takeout (ITO)
No comments:
Post a Comment