John Maynard Keynes

Fall 2016 IPED 202 Final Exam Questions Which of the three findings in the article do you find most troubling about our economy and society? Please list and explain each briefly. (20 points) Unemployment rate increased highly so that people had hard time to find jobs. In the article, the annual survey depicts, "Unemployment skyrocketed to 10 percent and the jobless rate is still a stubbornly high 9.6 percent." Therefore, people hard to earn money if people do not have jobs. As the unemployment…

John Maynard Keynes John Maynard Keyes is a British economist that is known for his views and thoughts on macroeconomics. Keynesian economics govern his ideas, which indicates that economic output in the short run are heavily influenced by aggregate demand. Keynesian economics finds aggregate demand to be influenced by many factors, which may act in an unstable way. This view of economics was first introduced during The Great Depression with Keyes’ book The General Theory of Employment,…

As world renowned English author, John Maynard Keynes once said, “When the facts change, I change my mind.”. This thought can be comprehended as opinions change when the honest details and contrasting angles are laid out. As requested by the National Commercial Broadcasting Agency, also known as NCBA, we have conducted an experiment here at Personal Perspective Clinic of Harvard University or PPCHU. Used in this experiment, we took two individuals, one male and one female, from each state of the…

basis of classical economics. Keynes challenged this idea and proposed that through fiscal policy, the government can remedy the faults of the market, typically by stimulating consumption on both a private and public level (Musgrave 170). In a more abstract sense, Keynes proposed the idea that individuals could be wrong, and that the government needed to step in to regulate the consequences of the individual’s errors. At an even higher level, the Great Depression and Keynes humbled the American…

Say’s Law provided John Maynard Keynes a framework for understanding the importance of investment and liquidity preference, however, that did not impede him on criticizing Say’s Law. Keynes focused on how investment decisions are made; usually based off present expectations which are formed under uncertain conditions of the future. Due to this uncertainty…

Economists Robert Shiller and George Akerlof liberated their thoughts and findings in Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism in 2009. Both Shiller and Akerlof are highly recognizable names when it comes to economics. Akerlof is a professor of economics at the University of California Berkeley and is recognized by his achievements in 2001 where he was the Nobel Prize winner for economics. At Yale University, Shiller is also an economic…

Both David Kennedy and Paul Conkin both write about the New Deal and what it did- Kennedy applies the New Deal to modern America, and applauds it for its accomplishment. Conkin, on the other hand, is very critical, and believes it fell short in various areas. Kennedy 's account of the New Deal is more convincing as he argues the program 's coherence and effectiveness. His entire argument in his essay was that the New Deal was a productive from the security programs to the economic structure it…

The Great Depression will be forever marked as one of the darkest periods of American history. Millions of Americans lost their jobs, and seemingly no hope existed for the future of the country. The claims of the causes of the Great Depression vary, but they all root from one fundamental flaw: the weakness in the American Economy. They many flaws of the American Economy made an eventual crash very predictable. The great stock market crash did not cause the Great Depression. Rather, it merely…

In the videos, “End this depression now”, part one, and, “End this Depression Now “, part two, Paul Krugman talks about the problems we face in today 's world, things that affect us or help us stay out of a depression. Honestly I am a bit surprised to hear that even though we have been out of a recession that ended in 2009, the United States still faces problem like being unemployed for more than one year, and for those who graduate, finding a job has not been easy. The reason I am surprised…

With respect to John Maynard Keynes, and his book The Economic Consequences of the Peace, caused a global shift propelling a paradigm founded on the notion that public investing on a global spectrum would create beneficial trading relationships that could boost the global economies. In addition, that World War II reparations, would in the long-haul cripple Germany's economic recovery and thereby negatively impact other European nations. This ideology was furthered by Keynes' simple idea that…