The famous British economist John Maynard Keynes argued that the Great Depression was a result of a sharp fall in the level of investment and that unemployment reflected a state of deficient aggregate demand.

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John Maynard Keynes indeed argued that the Great Depression was primarily due to a significant drop in investment, leading to insufficient aggregate demand, which in turn resulted in high unemployment. This perspective formed the basis of Keynesian economics, emphasizing the role of government intervention to manage economic cycles.

The Famous British Economist John Maynard Keynes Argued That the Great