John Maynard Keynes introduced the concept of countercyclical fiscal policy which, in theory, would act as a great stabilizing tool in our economy. Over the years, there have been pushes for a balanced budget amendment to the Constitution, which would effectively preclude the use of Keynesian economics. Do you favor a balanced budget amendment? Why or why not? In your opinion, has incrementalism effectively precluded the use of Keynesian economics, or do we still have a need for the Keynesian approach?

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The Answer of John Maynard Keynes introduced the concept of countercyclical fiscal policy which, in theory, would act as a great stabilizing tool in our economy. Over the years, there have been pushes for a balanced budget amendment to the Constitution, which would effectively preclude the use of Keynesian economics. Do you favor a balanced budget amendment? Why or why not? In your opinion, has incrementalism effectively precluded the use of Keynesian economics, or do we still have a need for the Keynesian approach?

John Maynard Keynes Introduced the Concept of Countercyclical Fiscal Policy