This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 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 didnt 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...
View Full Document
This essay was uploaded on 04/07/2008 for the course LCS 101 taught by Professor Kenner during the Spring '08 term at Bryant.
- Spring '08