According to JMKeynes, What must a country do at times of Economic depression to revive the Economy?
Answers
Explanation:
ECONOMY ECONOMICS
Keynesian Economics
By JIM CHAPPELOW
Reviewed By BRIAN BARNIER
Updated Apr 30, 2020
What Is Keynesian Economics?
Keynesian economics is an economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed by the British economist John Maynard Keynes during the 1930s in an attempt to understand the Great Depression. Keynes advocated for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the depression.
Subsequently, Keynesian economics was used to refer to the concept that optimal economic performance could be achieved—and economic slumps prevented—by influencing aggregate demand through activist stabilization and economic intervention policies by the government. Keynesian economics is considered a "demand-side" theory that focuses on changes in the economy over the short run.