This writer stated the best way to pay for war is compulsory saving, which is equivalent to deferred pay, since wars often result in inflation.
This writer stated the best way to pay for war is compulsory saving, which is equivalent to deferred pay, since wars often result in inflation. He also wrote that the economic problem would be solved within one hundred years, depriving mankind of its traditional purpose. Those ideas appear in How to Pay for the War and Economic Possibilities for our Grandchildren. Another book, which stated that the classical theory of economics is applicable to a special case and is disastrous when applied, addresses the propensity to consume and states that the spender of last resort should be the government. Name this economist who advocated suppressing inflation with government cuts and curbing recessions with government spending in The General Theory of Employment, Interest and Money.
This writer stated the best way to pay for war is compulsory saving, which is equivalent to deferred pay, since wars often result in inflation.
John Maynard Keynes [“Canes”]