History 1807 Lecture Notes - Lecture 39: Keynesian Economics, Money Supply, Unemployment Benefits
7 Mar 2016
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Time that us isn"t the only economy which inluences how the wolrd works. Us was borrowing money to cover raising costs. Staglaion occurred in the 70s, high inlaion and high unemployment. When gov used deicit spending in 70s, there wasn"t much of an impact. Liberal criique was that gov needed to spend more money. Conservaive view of the situaion was that it was the cause of natural forces, and that. Us has reached a point of industrial maturity. There was a huge job loss, and people unemployed were not able to ind another job. Us was going further in debt by further borrowing. Thought is to move from keynesian theory and iscal policy, and now go into monetary policy. Liberals and conservaives have opposite thoughts on the situaion. Public thought is to blame the people who took their jobs (women, minoriies), instead of blaming the gov.
