3 ms·
Keynes was right: he's dead. Unfortunately for us, we are not.
by recursivedoubts 5y ago
Keynes was right: he's dead.
Unfortunately for us, we are not.
- boppo1 5y agoElaborate?
- pjfin123 5y agoKeynes advocated government borrowing and spending during a recession to cushion the decrease in aggregate demand. Critics of this deficit spending claim that the market should in the long run correct itself to which Keynes famously responded "In the long run we're all dead." The U.S. government did this type of deficit spending in 2020-2021 printing and spending a large amount of money/debt which moved future spending to the present.