answersLogoWhite

0

John Maynard Keynes - correct spelling, it just sounds like "Kaynes" was an economist who provided a theory that justified government spending during economic slowdowns. By increasing aggregate (total) demand, the government can stimulate the economy. Of course, he recognized this would have to balanced by a decrease in aggregate demand in the future, but governments have always ignored this part. The philosophy is don't worry about the long run. In the long run we'll all be dead. My favorite quote of his is, "Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency...Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to bebauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner not one man in a million can diagnose."

His philosphy justifies government deficit spending, inflation, and Fiat currency.

User Avatar

Wiki User

13y ago

What else can I help you with?

Related Questions

Ano ang kontribusyon ni john maynard kaynes?

siya ay isang buang...


How old is Skander Kaynes in the Chronicles of Narnia the Lion the Witch and the Wardrobe?

19 yrs old well he was in the book i mean edmond


Who was the Governor of New Jersey in 1964?

Richard J. Hughes (born August 10, 1909 in Florence Township, New Jersey; died December 7, 1992 in Boca Raton, Florida) succeeded Robert B. Mayner as the forty-fifth Governor of New Jersey, serving between January 16, 1962 and January 20, 1970, including the whole of 1964.


Who was the Governor of New Jersey in 1965?

Richard J. Hughes (born August 10, 1909 in Florence Township, New Jersey; died December 7, 1992 in Boca Raton, Florida) succeeded Robert B. Mayner as the forty-fifth Governor of New Jersey, serving between January 16, 1962 and January 20, 1970, including the whole of 1965.


The change from classical econimics to modern economic theory in the twentieth century is associated with this man?

Economist John Maynard Keynes (b. 1883). Keynes' theories on economics and the relationship of money supply, velocity, fluidity, and value, revolutionized the field of economics. His views, now referred to alternately as 'supply-side,' 'monetary,' or simply 'Keynesian' economic theory, were widely embraced by Western nations, and were largely credited with ending the great depression; the influence of Keynes' ideas persists today.


Where does the last name Maynard come from?

The last name Maynard has its origins in Old French, derived from the personal name "Mainard," which itself comes from the Germanic elements "magin," meaning "strength," and "hard," meaning "brave" or "hardy." It was introduced to England after the Norman Conquest of 1066. The surname has been recorded in various forms over the centuries, including "Maienard" and "Mayner." It is primarily found in England and has spread to other English-speaking countries.


What does the name Latrisha mean?

John John John John


How many verses in the gospel of John?

In the King James version John - 1 _ 51 John - 2 _ 25 John - 3 _ 36 John - 4 _ 54 John - 5 _ 47 John - 6 _ 71 John - 7 _ 53 John - 8 _ 59 John - 9 _ 41 John - 10 _ 42 John - 11 _ 57 John - 12 _ 50 John - 13 _ 38 John - 14 _ 31 John - 15 _ 27 John - 16 _ 33 John - 17 _ 26 John - 18 _ 40 John - 19 _ 42 John - 20 _ 31 John - 21 _ 25 Which adds up to 879


How did John and his crew travel?

um which john john redfriend john locks john talibin


How do you spell John in German language?

John in German is John


Did John the Baptist write the book of John and 2 John?

No. The book known as John's Gospel was originally anonymous, so we will never really know who wrote it, but certainly the author was not John the Baptist. Late in the second century, the fourth gospel was attributed to the apostle John.


Which comes next John John Paul John Paul?

John