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The Great Depression And The Keynsian Revolution: What Did We Learn?

29 minutes

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Part of the "Economics USA" series. In 1932 President Herbert Hoover spoke enthusiastically about financial recovery, while John Maynard Keynes expressed doubts. Keynes published "The General Theory of Employment, Interest & Money" in 1936, displaying ideas that later became the basis for public policy in Washington. Franklin D. Roosevelt did not generally trust economists, but his increased government spending during WWII proved Keynes's theories correct. These stories discuss the ideas of J.M. Keynes and how the theory behind Keynsian economics explained the Great Depression.

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Runtime: 29 minutes

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