John Maynard Keynes and His Contribution to Economics and America

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With the recent recession John Maynard Keynes and his theories are being debated by millions of Americans, though likely without their knowledge, as his theories have become integral to America’s economic policy. A search of “John Maynard Keynes” on Google news, limited to just the past week, yields more than 200 results, illustrating the scope of Keynes’ continued influence. Fueled by concerns over unemployment and inflation the debate rages over government’s role in the economy, including regulation of industry, tax rates, and government spending to stimulate the economy. What people are really arguing over are the merits of supply-side economic versus demand-side. Keynes or “Keynesian economics is based on the notion
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Amidst the global recession, including America, which was experiencing “The Great Depression”, Keynes continued to offer his advice to Great Britain and the United States. At the time economists largely “favored balanced budgets.” This was certainly true in America where “in the 1932 presidential election, Franklin D. Roosevelt had blasted Herbert Hoover for running a deficit, and dutifully promised he would balance the budget if elected.” FDR’s eventual persuasion to follow Lord Keynes ideas came several years after their first meeting in 1934. This delay was perhaps due in part to each man’s peculiar impression of the other: FDR perplexed by Keynes, explained to his Secretary of Labor that because of his “rigamarole (sic) of figures…He must be a mathematician rather than a political economist.” ; Keynes returning the sentiment remarked he had "supposed the President was more literate, economically speaking."
In 1938 Roosevelt fortified the New Deal, a comprehensive series of social and economic programs with distinctly Keynesian ideals. Though government spending had been bolstered throughout the implementation years of the New Deal, it was not until the end of the 1930’s that FDR stated so in such Keynesian terms.
Keynes monumental contribution to American Economic Policy during this era has continued to influence the economy today, and as a

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