This student of Pigou discussed the credit cycle in his Treatise on Money, and recommended that World War Two should be financed by higher taxation instead of deficit spending in How to Pay for the War.
This student of Pigou discussed the credit cycle in his Treatise on Money, and recommended that World War Two should be financed by higher taxation instead of deficit spending in How to Pay for the War. The school of economics most (*) associated with him believes that the multiplier effect produces a disproportionate increase in aggregate demand. He advised the U.S. to use deficit spending to counteract the Great Depression, and is best known for the ideas put forth in The General Theory of Employment, Interest, and Money. FTP, name this 20th century British economist.
This student of Pigou discussed the credit cycle in his Treatise on Money, and recommended that World War Two should be financed by higher taxation instead of deficit spending in How to Pay for the War.
John Maynard {Keynes}