A central contention of this economist was represented mathematically by Hicks and Hansen in their IS-LM model.
A central contention of this economist was represented mathematically by Hicks and Hansen in their IS-LM model. This thinker believed that saving beyond what is necessary for planned investment risked recession. This economist's contemporary Dennis Robertson used his ideas to coin the term "liquidity trap." He argued against harsh monetary reparations levied against Germany after World War I in his book The Economic Consequences of the Peace. FTP what British economist argued for government stimulus spending to stimulate aggregate demand to fight recession in his magnum opus, The General Theory of Employment, Interest, and Money?
A central contention of this economist was represented mathematically by Hicks and Hansen in their IS-LM model.
John Maynard Keynes