Demand Drives Employment

34sec Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The Great Depression can be understood through three main theories: Keynesian, Monetarist, and Austrian. Keynesian theory, attributed to John Maynard Keynes, posits that a free market does not necessarily lead to full employment. Instead, Keynes argues for government intervention to increase market demand as a solution to achieving full employment. He identifies secular stagnation as a key issue during the Great Depression, suggesting that a decline in consumer desire to purchase goods contributed significantly to the economic downturn.

The roots of the Great Depression have been debated for decades, but what if the real culprit was bad government policy? In this episode, Ben dives into the economic chaos of the 1930s, examining the theories of Keynes, Friedman, and the Austrian economists. From government overreach to monetary mismanagement, discover how different interpretations of the Depression still influence economic decisions today. Could these historical lessons be the key to avoiding future financial disasters?

Today's Sponsor:

Birch Gold - Text "BEN" to 989898, or go to https://birchgold.com/ben, for your no-cost, no-obligation, FREE information kit. Qualifying purchases will get an exclusive GOLDEN Truth Bomb.