John Maynard Keynes

John Maynard Keynes was a British economist who believed that the government should play a large role in the economy by investing in the public sector. I agree with him to a point. I think that the government should invest in times of crisis, but they must be careful to not take over the public sector. We should be concerned about Keynes and his ideas at this time because we are in a bit of a recession, and the government is doing what he said by helping out large companies.

Keynes believed that the government should help out the public sector. He thought the government should invest in the public works, even at the point of running up a deficit. He believed that by supporting the public work, more jobs would be available, creating more employment, more money, more demand, eventually leading to a well balanced economy. President Franklin D. Roosevelt tried Keynes theory out, and it worked, eventually ending the Great Depression.

I think that Keynes theory is a good idea, but only to a point. If the government helps out the public sector too much, they could end up practically taking over some companies. Also, the theory might not work, causing the government to lose a lot of money. However, I do believe that the government should help out the economy in times of crisis, or even before a crisis if possible. I believe that if the government can help a failing economy get back on its feet, then it should, as long as it is not taking over the economy.

At this time, we are in a small recession. Large companies and banks have lost a lot and have had to be boosted up by the government and its money. Without the governments support, these large companies and banks would have gone bankrupt, many people would have lost their jobs, and our economy would have taken a turn for the worse. We should be concerned with the Keynesian theory because that is what we are doing right now, with the government supporting the economy to prevent a depression.

John Maynard Keynes was a very famous economist, whose ideas helped to stop the Great Depression. I believe that the government should help the economy in a crisis, but they should also try to let a free market reign. We should remember Keynes and his theories because they could save us a lot of money during this time of recession.