Keynes describws that the level of output and employment

Reference no: EM1337923

The answer to Keynesian economics

The question is: identify a person, organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the U.S. since the late 1980s?

It seems that when Ronald Reagan became president in 1980, he helped raise the GDP, and the Keynesian Economics helped to do this.

So over all, I think that John Maynard Keynes should be the one to be credited for this.
From Wikipedia - "Keynes explained that the level of output and employment in the economy was determined by aggregate demand or effective demand. In a reversal of Say's Law, Keynes in essence argued that "demand creates its own supply," up to the limit set by full employment."

I would like to know if you agree that John Maynard Keynes would be the one credited for this for these reasons, and any other info of thoughts on this topic.

Reference no: EM1337923

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