Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Which person developed new economic ideas based on governments borrowing and spending more money during an economic crisis?

Sagot :

ddk
That would be the British economist, John Maynard Keynes. His philosophy of deficit spending (known as Keynesianism) developed and received attention during the period of global depression (especially in the US during the Great Depression) during the 1920s and 30s. While President Roosevelt took up the idea of Keynesianism later on in his New Deal, he originally set out with the then-age-old idea of having a balanced budget. President Hoover had operated under the same thought process during the 1920s (he actually developed some work programs before the New Deal), but since neither were willing to run a deficit, the programs never succeeded until FDR began to practice Keynesian economics.
Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.