notes
- British economist
- Government should spend there way out of Government
- Borrow money and pay back after
- Deficit financing
- projects should value the country
- went against Adam Smith's theories
- USA, Japan and Hitler's Germany all used this with success
- Government should spend there way out of Government
- Borrow money and pay back after
- Deficit financing
- projects should value the country
- went against Adam Smith's theories
- USA, Japan and Hitler's Germany all used this with success
summary
John Maynard Keynes was a British economist who brought up the idea of Deficit Financing. He believed projects should value the country and he went against Adam Smith's theories. USA, Japan and Hitler's Germany all used this and were successful.
"The importance of money flows from it being a link between the present and the future" - John Maynard Keynes
What if countries weren't successful using Deficit Financing?