LABRST 1A03 Lecture Notes - Lecture 9: John Maynard Keynes, Sidney Hillman, Industrial Unionism
20 Oct 2017
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Workers are fed up with depression and everything that had negatively impacted workers before. They want to get organized into new organizations. Older labour leaders see this as an opportunity. Sidney hillman and john l. lewis (head of miner union) involves in pushing spread of industrial unions. Finding what is the new deal of unions to change the game. John maynard keynes was the dominant figure in way of economic thinking. Said the main problem of the economy was over production. Keynes said you need more money in the hands of all people so they can consume more. If all employers paid their workers nothing, no one would be able to consume much. You can"t have mass production without mass consumption . People with more money would also have more security and consumer confidence that they"ll be okay in the long-term. Keynes said you need to redistribute the money: stimulus.
