The Great Depression - The Theory of Pump Priming

Kaines constructed a complex and sophisticated hypothesis which explained what had been going on. The core of his theory was that what happened to the quantity of money didn't matter. What really mattered was a particular category of spending, an economist's jargon, autonomous spending. If private ending on investment on house building was not enough to maintain full employment, then government could always step in and spend enough to make up the difference. Is it any wonder that government spending has exploded ever since?