John Maynard Keynes
- British economist
- Governments should spend their way out of depression.
- Borrow money to be repaid after economy recovers.
- Deficit Financing
- Projects should be of value to the country
- Went against Adam Smith's theories.
- USA, Japan and Hitler's Germany all use this with success.
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John Maynard Keynes and Adam Smith's theories were opposed. Keynes believed that you had to spend money to make money. This was successfully used by USA, Japan and Hitler's Germany, with great success. Some would argue that it was also used in the USA with great success. It offered people jobs, hope and also benefited the country.
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