Economics Part B

Keynes

One the most important and well-known economists in history. Lived 1883 – 1946.

Keynes contributed to the understanding of the advantages associated with intervention by the government in the economy in times of recessions and unemployment. According to his approach, government intervention, in the right amount, should get the country out of the "rut". The intervention is supposed to increase demand and as a result reduce unemployment, up to a level of full employment.

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