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Influence of WW2 in the implementation of Keynesian Demand Management

Influence of WW2 in the implementation of Keynesian Demand Management

  The Keynesian Demand Management -KDM- Theory Governments’ response to the Great Depression started with the “laissez-faire” paradigm, austerity policies and the belief that free markets would automatically adjust for the optimal outcome.   With unemployment rates in USA and UK reaching 20%, British economist John M Keynes challenged the mainstream classical approach and advocated […]

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