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Essay / Research Paper Abstract
This is a 6 page paper that provides an overview of important economic topics. Issues such as Keynesian economics and the current global financial crisis are examined. Bibliography lists 2 sources.
Page Count:
6 pages (~225 words per page)
File: KW60_KFhis030.doc
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the relationship between government, society, finance, and the lives of everyday people. His primary thesis was that the economy as a whole could largely be regulated through the tight government
control of fiscal policy, and that while recessions might be inevitable, regulated fiscal policy had the capacity to temper their severity and prevent all-out economic collapse. These views were largely
shaped by his experiences and observations following the first World War, when unregulated economic exploitation of the German economy by private speculators led to entrenched bitterness over the Versailles Treaty,
and ultimately the start of World War II. Keynes accurately predicted that this would happen as early as the 1930s, and after he was proven correct by history, capitalist governments
around the world were eager to listen and adopt his policies after World War II was won. It was this influence that standardized the regulation of capitalist markets from 1940
to 1980, and kept in check the power of private corporations and speculators. Keynes impact upon global economics was dominant until the energy crisis of the 1970s led to a
reactionary period of deregulation in the 1980s; however, the crushing recession of the 2000s that stemmed from that deregulation is even now leading to a resurgence in the popularity of
Keynesian economics. In addition to this influence upon economic thought and policy, Keynes can also be regarded as an accomplished philosopher and statesman. For instance, his economic policies tend to
adopt not just a fiscal but a Humanist perspective, and proceed directly from a deep understanding of the traditions of John Stuart Mill and Henry Sigdwick. After World War II,
Keynes would bring these ideas into the political arena, serving in the House of Lords in an effort to help regulate the financial fallout of the conflict, and prevent the
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