PICSTOP
1. Who is shown in the picture? Name the book
written by him?
2. What was his main theory about the economic
policies of the British?
Answers
Answer:
1 John Maynard Keynes, 1st Baron Keynes 5 June 1883 – 21 April 1946), was a British economist, whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles, and was one of the most influential economists of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots.
2.His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. ... He argued that aggregate demand (total spending in the economy) determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment.
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