What did Keynesian economists believe in regard to government spending and the economy? Were they proven right or wrong during World War II? What were some of the effects WWII had on the American economy?
The Keynesian economist believed that “government spending would spark economic growth” (Carnes and Garraty 602). It turned out that their prediction was found to be correct. The work of Roosevelt helped increase the gross domestic product by almost double within a span of about 6 years (Carnes and Garraty 602). “In 1939 the United States turned out fewer than 6,000 airplanes, in 1933 more than 96,000” (Carnes and Garraty 602). Lots of manufacturing was able to be completed allowing for a rise in income. Another increase in the economy
The Keynesian economist believed that “government spending would spark economic growth” (Carnes and Garraty 602). It turned out that their prediction was found to be correct. The work of Roosevelt helped increase the gross domestic product by almost double within a span of about 6 years (Carnes and Garraty 602). “In 1939 the United States turned out fewer than 6,000 airplanes, in 1933 more than 96,000” (Carnes and Garraty 602). Lots of manufacturing was able to be completed allowing for a rise in income. Another increase in the economy