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vide 5 - Corey Hill March 6th Video 5 Economics USA What...

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Corey Hill March 6 th   Video 5 Economics USA: What did we Learn from the Great Depression? 1. The video was about the great depression and how America got through it. The person  whose economic philosophy would end up contributing most to ending the great  depression was John Maynard Keynes. The great depression left 25 % of the workforce   unemploy ed. While Hoover kept promising economic revival it didn’t come. Hoover went  by traditional economics which meant that there should be no hand in the economy that  things were suppose to work out on their own. This idea was challenged by Keynes who   predicted downward slopes to continue if some type of action by the government was   not taken . Keynes theorized that the economy would not correct itself. He felt that once  the Investment demand decreased so would consumer demand and that is basically  what happened during the depression. New president FDR was skeptical to Keynes 
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