John Maynard Keynes devised the framework for developing policies to avoid future severe macroeconomic downturns.

Question

Quizplus · Accepted Answer

John Maynard Keynes is considered one of the most influential economists of the 20th century and his theories on macroeconomics helped shape government policies during the Great Depression and after. He argued that government intervention in the economy, through increased spending and monetary policies, could help stabilize and stimulate economic growth during downturns. This framework became known as Keynesian economics.

John Maynard Keynes Devised the Framework for Developing Policies to Avoid