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John Maynard Keynes

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What geopolitical events helped shape John Maynard Keynes theories? How did they shape the future of economic policy in the U.S. and other Western countries?

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The solution goes into detail about the theories of John Maynard Keynes.

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In the late 1920s, the world economic system began to break down. World War I had ended. Global production was dropping and critics of the gold standard and market self correction emerged. Soviet Union was doing really well and progressing economically. Many noticed that and started to push towards socialism. Others pointed to the supposed success of fascism in Mussolini's Italy. Keynes stepped into this tumult and promised to save capitalism. He circulated a simple thesis: there were more factories and transportation networks ...

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