The Great Depression was one of the most severe economic crises in modern history, lasting from 1929 to the late 1930s. It led to massive unemployment, financial instability, and widespread poverty. During this time, many traditional economic theories failed to provide effective solutions. However, the ideas of John Maynard Keynes, known as Keynesian economics, introduced …
Keynesian economics, developed by John Maynard Keynes, is one of the most influential economic theories of the modern era. It emphasizes government intervention, especially during economic downturns, to stabilize the economy. However, despite its widespread adoption, Keynesian economics has faced strong criticism from economists and policymakers who argue that its principles can lead to inefficiencies, …