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What are the weakneses and strengths of the essence of Keynesian economics?
Wiki User
∙ 14y ago
Refer to George Reisman's book Capitalism Chapter 18 for the weaknesses. It can be downloaded from his website.
Wiki User
∙ 14y ago
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What are the weakneses and strengths of the essence of Keynesian?
Refer to George Reisman's book Capitalism Chapter 18 for the weaknesses. It can be downloaded from his website.
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What actions would a modern Keynesian economist advocate to cure a recessionary gap?
a Keynesian would argue that the essence to solve recession lies with demand management. When an economy is experiencing a boom (inflationary gap), government should tax people, reduce spending ...etc... to soak up the demand. When an economy is experiencing a bust (recessionary gap), government should decrease tax and increase government spending (using money they gained during the boom) to increase the demand of an economy.
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