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 country
· Went against Adam Smith’s theories
· USA, Japan and Hitler’s Germany all use this with success
FUN FACT: John's full name was John Meynard Keynes, Baron of Tilton
Subjunctive Question
What would have happened if FDR believed in Adam Smith not John Keynes?
"Long run is a misleading guide to current affairs. In the long run we are all dead."
- Keynes
- Keynes
Summary: John Maynard Keynes was a british economist who believed to make money, we must spend money first. His ideas were used by many countries during the great depression and still used today.