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John Maynard Keynes developed new economic theories in response to the
stock market crash of 1929.
Great Depression of the 1930s.
first and second world wars.
economic boom of the 1950s.
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Great Depression of the 1930s.
Keynes developed his theories (e.g., The General Theory, 1936) to explain and address the prolonged unemployment and weak demand of the Great Depression, advocating active government fiscal and monetary policy to manage aggregate demand.
Keynes developed his theories (e.g., The General Theory, 1936) to explain and address the prolonged unemployment and weak demand of the Great Depression, advocating active government fiscal and monetary policy to manage aggregate demand.
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