The economic model named for this thinker is based on the multiplier effect. This economist argued that increased private saving leads to a higher interest rate in his refutation of Say's Law, and attacked the Treaty of Versailles in The Economic Consequences of the Peace. His theory that increased government spending can cure recessions was applied by Franklin Roosevelt i
The economic model named for this thinker is based on the multiplier effect. This economist argued that increased private saving leads to a higher interest rate in his refutation of Say's Law, and attacked the Treaty of Versailles in The Economic Consequences of the Peace. His theory that increased government spending can cure recessions was applied by Franklin Roosevelt in the Great Depression. For 10 points, name this British economist who advanced his ideas in The General Theory of Employment, Interest, and Money.
The economic model named for this thinker is based on the multiplier effect.
John Maynard {Keynes}