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How Did Maynard Keynes Understand The Great Depression

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The ten-year Great Depression ran from 1929 to 1939. Economist Maynard Keynes attempted to understand the Great Depression as early as the 1930s. Keynes thought and wanted to see an increase in government money’s spent and lower taxes to assist with stimulation of the global economy and pull it out of the Depression. This is different from the long-held views concerning cyclical swings in employment and economic productive outputs that was thought would be modest and self-adjusting. According to this long held classical theory, if enough demand in the economy fell, the result would be a weakness in production and the number of jobs would begin a decline in certain cost of goods and services along with an effect on wages. Wages and prices being

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