February 20, 2020

ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 11

The act required the formation of a group called council of economic advisers by the president and the main job was to enable the presidency to analyse and asses the economic climate,forecast the future and making tedious fiscal policy decision.It was charged with the responsibility of helping the president actualise the intent of the act:"to promote maximum employment,production and purchasing power".There was so much commitment to the act that guarrantees full employment through the fiscal policy,centralising all previous programs initiated to deal with employment problems.When korean war ended United States participation ended too and then stalled the economy that had no later growth in consumer demand.When Eisenhower was afflicted with the highest level of unemployment since the great depresion what did he do in the face offierce resistance and stronglyworded opposition and recommendation that besieged him?Did he support the traditionalists that favour tax increase or the council for economic development

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