ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 10

In the same way,Milton Friedman doubted the capability of central bankers to effectively handle the monetary management,keynes admirers believedhe underestimated the capability of the American economy to produce and it did and burstonce again into wartime prosperity.Solving the 25 percent unemployment nightmare of the depression as inflation not unemployment constituted the fundamental economicproblem of that great economy by the 50s,60s and 70s period of stagflation when keynesian backfired.The political concept of using the expenditural and taxation or fiscal power to control national economics was begun during Rooseveltian times.Spending during the period was only 10 percent of total national output compared to 35% in the 90s to 2000.This keynesian approach a high level of spending might have empowered many americans to take control of their destinies at the same dependent on government.One of the practical aspects of implementing keynesian was the employment act of 1946,to test keynesian in real life.