"It wasn't really that they were put into effect as ideas by the New Deal or by anybody else. As a matter of fact, paradoxically, many of the policies of Nazi Germany were very much in line with Keynesian recommendations for overcoming a depression, and the German depression in general was overcome. Hitler's Germany came out of the depression long before the United States did, and that was because they spent a lot of money, deficit financing, controlled investment, on a war program. As a matter of fact, the Great Depression never was over in the United States until the war. The New Deal did not act on Keynesian policies at all. The history of Keynesian theory and policy is full of paradoxes. It is important that you really understand the complexities of the history of the period."
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Historians from EnglandPhilosophers from EnglandUniversity of Cambridge facultyEconomists from EnglandSociologists from England
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John Maynard Keynes
1883 – 1946
Britischer Nationalökonom
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