ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 2

the selfmaintenance powers of the system and the notion of continuous spending either by purchase of goods and services or by investment will stimulate long run production.The economy of the 19th century was startlingly much more resilient than the saturated epoch of today,specifically its capacity to recover from potential challenges prior to its swing into another direction.The american economy experienced severe decline in early 20th century,preceding World war 1 when investment declined like production,in the face of ballooned unemployment.The prejudice that government intervention and the notion that tampering with the free market mechanism would make things worse blanketed the viewpoints of Americans like a chilling fog.When in 1914,they began to support war effort with production,jobs proliferated everywhere including agroallied surplus and food production.Infact,by the time Americans as world citizens,with armed services entered the war in 1917,and catapulted the military production of weapons and....