Keynesian economists believed that the prolonged unemployment of the 1930s was the result of

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Keynesian economists believed that the prolonged unemployment of the 1930s was due to insufficient aggregate demand and the failure of market forces to direct the economy back to full employment. They argued that government intervention through increased spending and reducing interest rates was necessary to stimulate demand and create jobs.

Keynesian Economists Believed That the Prolonged Unemployment of the 1930s