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On John Maynard Keynes’ "General Theory of Employment, Interest and Money"

New Books in the History of Science

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Keynes's Argument About Supply and Demand

Keynes argued that the government could directly influence the level of demand by engaging in public investment programs. He wanted to preserve people's confidence in business, especially during economic downturns like the Great Depression. And so he felt that it was the government's responsibility to boost spending through direct action. By thinking about it in that way, Keynes was at one level making a progressive and almost radical argument.

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