Keynesian Economics
- John Maynard Keynes was a British economist who came up with a new economic theory for the Great depression, he believed that during times of crisis the government should spend money, and take a deficit in order to keep people working and keep the economy running smoothly.
- When times were good he believed that the government should be less involved and allow the economy to run more freely.
Ebb & Flow of Liberal Economic
The ideas of Keynesian economics, helped shape Roosevelt`s new deal and revive the economy from the effects of the great depression, his ideals, were a step left on the economic spectrum, believing that in times of despair, the government needed to spend money and take a deficit in order to keep people working and the economy afloat. This system is meant to stop the cycle of booms and busts in the economy and create more stability.