What Keynes can teach us about government debt today (WEF)

John Maynard Keynes, the British economist whose theories dominated the industrial postwar West, argued for government spending as a means to counteract slow economic growth. Especially during a recovery from a recession or depression, he reasoned, private demand is insufficient, so extra spending by government is needed to ensure that aggregate demand remains high enough to maintain full employment. But what would Keynes have made of the debate over governments borrowing to invest in times outside acute crises or recession?

https://www.weforum.org/agenda/2019/06/keynes-john-maynard-economics-government-spending/

Linda Yueh – Oxford and London Business School economist

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