John Maynard Keynes: Money Doesn T Work

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In source one, John Maynard Keynes is very sarcastic in his quote. When Keynes says, “wickedest of men will do the wickedest of things for the good of everyone,” he is referring to the big, rich business owners and corporations. These corporations run their businesses off of their own self-interest, and in the end, they lay many people off while saying it is for the good of the economy. Keynes’s theory is that during a recession the government needs to spend more to help the economy, during good economic times the government needs to increase taxes and save it. When the Great Depression hit in 1929, many were unable to eat and were homeless. In 1933, Franklin Delano Roosevelt helped that society’s economy by introducing Keynes’s theory which gave a lot of people jobs. Keynes believes capitalism doesn 't work, in the long run complete capitalism and laissez-faire will lead a society to a Depression. In source two, the cartoonist is against capitalism as well. The political cartoon is referring to Adam Smith’s economic philosophy of the “invisible hand”. The cartoonist in his illustration is trying to say if the invisible…show more content…
In Friedman 's quote he is saying that the workers who are earning their money are getting taxed more to help the unemployed through welfare, unemployment, and subsidize. Many capitalists believe you will not get ahead if you don 't put in the effort and work hard. Friedman is an extreme monetarist, which means he believes highly in capitalism. Friedman would say people should be responsible for themselves and not depend on the hard working wealthy people because it is not fair to the ones who work hard just so others can benefit from it. Friedman would argue that if it were a capitalist economy and people had no jobs, then society would just have to adjust to a higher inflation rate instead of increasing taxes, this would cause unemployment to decrease over
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