jun 5, 1883 - John Maynard Keynes

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The date is his birthday- Keynes was a economist who provided one of the major theories in how an economy should run. His theory is the idea that during times of an economic "bust", government spending should increase but during a "boom", spending should decrease. This theory coincides greatly with the ideas of DEMAND SIDE ECONOMICS as Keynes believes that demand is a driving force in the economy. The ideas of KEYNESIAN ECONOMICS also relate to the ideas of a WELFARE STATE where government should be intervening to balance out the highs and lows of the economy.

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