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Milton Friedman
Beginning of essay
is known as one of the top economists in the world. He
has a Ph. D. from Columbia University, won a Noble Memorial Prize in economics
and has also been awarded many honorary degrees by other Universities in the
United States. As you can tell, has played a significant part in
helping to solve th ....
Middle of essay
....cally how
Keynes explained the recession. He also came up with a solution to it.
The cure for this, was for the central bank to expand the money supply.
Keynes said, "by putting more bills in people's hands, consumer confidence would
return, people would spend, and the circular flow of money would be
reestablished(Keynes, 232)." That was the cure and explanation to the recession,
but what about the depressions? Keynes believed that depressions were recessions
that had fallen into a "liqu.... |
| Number of words: 1035 |
Approximate pages: 4 |
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