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Keynes proposed that governments can keep economies running smoothly by accumulating reserves in times of prosperity, and spending those reserves in the form of economic stimulus packages in times of recession or economic slow-down. Governments have been quick to adopt the second half of the program while ignoring the first half. It's always more fun to spend money than to save it for a rainy day.
What else can I help you with?
Which group of 18th 19th and 20th century economic philosophers and writers would favor an open market with very little government involvement?
Adam Smith, John Stuart Mill, David Ricardo
Who argued that government should stay out of private business?
John Stuart Mill argued that government should stay out of private business.
What is the object of the study of economics?
The object of economics, according to J.S. Mill, is that sphere of man's action that is involved in the pursuit of wealth. However, Lionel Robbins supplanted this definition of economic sciences by arguing that, "Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses"
Who were 18th 19th and 20th century economic philosophers and writers who would favor an open market with very little government involvement?
Adam Smith, John Stuart Mill,David Ricardo
What was the laissez-faire policy?
The laissez-faire doctrine was put forth by Adam Smith and John Stuart Mill in the mid 1800's. It held that the economy functioned best when it was unencumbered by government regulations.
What is John Stuart Mill's birthday?
John Stuart Mill was born on May 20, 1806.
When was John Stuart Mill born?
John Stuart Mill was born on May 20, 1806.
How old is John Stuart Mill?
John Stuart Mill was born on May 20, 1806 and died on May 8, 1873. John Stuart Mill would have been 66 years old at the time of death or 209 years old today.
Where did John Stuart Mill live?
John Stuart Mill died on May 8, 1873 at the age of 66.
What did john Stuart mill invent?
the correlation coefficient.
How did john Stuart mill die?
John Stuart Mill died from erysipelas in the year 1873. Mill was a political economist and also a well known philosopher.
Who wrote on liberty?
John Stuart Mill wrote On Liberty.
What are the contributions of John Stuart mill in health?
John Stuart Mill was a British philosopher, most well-known for his development on the concept of liberty. No records state he had any contribution to the field of medicine.
Why was john Stuart mill important?
John Stuart Mill was important because he was a big part of the first wave of feminism, he campaigned in the mid 19th century to give women more rights.
What did john Stuart mill do?
John Stuart Mill was an English Philosopher and a social reformer of the industrial revolution. He fought for the rights of women. For example, he fought for women's right to vote and equal access to education. He also, questioned unregulated capitalism and believed that it was wrong for workers to be deprived of their lives, food (sometimes living in starvation), or their shelter.
Who are the reformists?
Charles Dickens, Jeremy Bentham, John Stuart Mill
Who wrote the book On Liberty?
John Stuart Mill wrote On Liberty.
