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Adam Smith John Keynes
There's not much demand going around right now.
No! That would only cause inflation.
The government should spend money to create jobs.
If the government puts more money into the economy, that diminish the value of money and cause inflation. They should stay out of it.
If the government creates more jobs, that would mean more products will be available to buy so inflation wouldn't be a problem.
Supply controls demand so if there are more products made demand will go up.
That would be a bad idea because under-spending could still occur.
I, Keynes, am correct because the government can control the output of businesses and help in depressions and recessions. It is unreliable to expect the economy to get itself out of a depression or recession because people could still under spend and have no confidence or anything to boost them.
David Ricardo and Jean-Baptiste Say support Classical economics with Smith. Roy Forbes Harrod and Sir John Richard Hicks support Keynesian economics with Keynes.
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