What did John Maynard Keynes argue about unemployment?

For the sake of brevity, Keynes argued that there were situations where low wage rates wouldn't stimulate higher employment. read more

The British economist John Maynard Keynes argued that there is a role for government intervention when aggregate demand for goods and services drops, as it did during the Great Depression. Without increased public spending to make up for decreased private spending, he said, an economy will slide into a vicious circle of low demand and low output, ensuring a prolonged period of high unemployment. read more

John Maynard Keynes was born on June 5, 1883 and died on April 21, 1946. John Maynard Keynes would have been 62 years old at the time of death or 132 years old today. read more