HREQ 3761 Lecture Notes - Lecture 4: John Maynard Keynes, Full Employment, Great Depression
6 Feb 2018
School
Department
Course
Professor
Document Summary
The idea that there is no social policy. The idea that the state should only be used for certain kinds of functions. To protect the basic rights of individuals. Market: the state was not supposed to interfere, perfect competition, market would correct itself if it was working alone. A result of the gap between rich and poor. According to critics it was due to shaky credit structure. The result of the stock market was. This is an issue around long-term capitalism. During periods of growth there is lots of employment + investments. Lower levels of demand: layoffs, expanding markets, lower prices. Laying off people: counterproductive to lowering prices for people who can"t afford anything. Governments get involved in how to start a war. You need to make sure your doing everything your doing to fight the war. They started to create more control in government officials.
