- 02 Oct 2011 14:22
#13806390
Who came up with the idea that Infrastructure Spending and Jobs could help the Economy was it FDR I don't think that it was Keynes because FDR rejected Keyne's ideas does anyone know thanks ?
As mentioned above, Keynes' advice on ending the Great Depression was rejected. President Roosevelt tried countless other approaches, all of which failed. Almost all economists agree that World War II cured the Great Depression; Keynesians believe this was so because the U.S. finally began massive public spending on defense. This is a large part of the reason why "wars are good for the economy." Although no one knows the full secret to economic growth (the world's top economists are still working on this mystery), wars are an economic boon in part because governments always resort to Keynesian spending during them. Of course, such spending need not be directed only towards war -- social programs are much more preferable.
http://www.huppi.com/kangaroo/Keynesianism.htm
As mentioned above, Keynes' advice on ending the Great Depression was rejected. President Roosevelt tried countless other approaches, all of which failed. Almost all economists agree that World War II cured the Great Depression; Keynesians believe this was so because the U.S. finally began massive public spending on defense. This is a large part of the reason why "wars are good for the economy." Although no one knows the full secret to economic growth (the world's top economists are still working on this mystery), wars are an economic boon in part because governments always resort to Keynesian spending during them. Of course, such spending need not be directed only towards war -- social programs are much more preferable.
http://www.huppi.com/kangaroo/Keynesianism.htm
Last edited by Cartertonian on 02 Oct 2011 14:34, edited 1 time in total.
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