ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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John Maynard Keynes
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Friedrich Hayek
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Either A or B
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None of the above
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Detailed explanation-1: -Keynesian economics gets its name, theories, and principles from British economist John Maynard Keynes (1883–1946), who is regarded as the founder of modern macroeconomics. His most famous work, The General Theory of Employment, Interest and Money, was published in 1936.
Detailed explanation-2: -Adam Smith and John Maynard Keynes are two of the most famous economists of all time. Though Smith was against taxes and Keynes was for them, both had the same goal in mind. Both understood that the key to economic prosperity is to keep the money circulating.
Detailed explanation-3: -His most important work, The General Theory of Employment, Interest and Money (1935–36), advocated a remedy for economic recession based on a government-sponsored policy of full employment.
Detailed explanation-4: -The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, giving macroeconomics a central place in economic theory and contributing much of its terminology – the “Keynesian Revolution".