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- British economist
- Governments should spend their way out of Depression - Borrow money to be repaid after economy recovers - Deficit financing - Projects should be of value to the country - Went against Adam Smith's theories - USA, Japan and Hitler's Germany all use this success. |
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Roosevelt based his ideas on John Keynes theory. His theory was that government intervention was necessary in order to combat excessive boom and bust cycles in a nation's country.