Did Keynesian Economics Work Great Depression? For Keynesian economists, the Great Depression provided impressive confirmation of Keynes’s ideas. A sharp reduction in aggregate demand had gotten the trouble started. The recessionary gap created by the change in aggregate demand had persisted for more than a decade. What did Keynes think caused the Great Depression? The
Is Keynesian Economics Relevant Today? Keynes was considered helpful in the “Golden Age of Economic Growth” after the Second World War, but he is largely ignored now that we have recreated conditions similar to the Great Depression in many countries. Keynesian analysis was abandoned in the turbulent 1970s that signaled the end of rapid economic
What Did John Maynard Keynes Say About The Long Run? In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.” What did Keynes say about the long