James Graham on John Maynard Keynes
Great Lives
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Cansianism and Inflation
Cansian economics is based on the idea that economy will always be growing at less than full employment. Unlike neo classical economists, people don't just save and have savings translate into investment. So even in normal times, he would argue, so not in recession or depression, there is a role for government to boost investment. And kanes also argued, and it was accepted, and that government should run a deficit to do so. But cansianism fell out of favour when new classicists such as Linderan came into prominence.
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