Abstract
This chapter shows how GDP is determined in Keynesian theory and presents Keynes’ explanation of trade cycles in a capitalist economy. It also discusses the stabilization measures, fiscal and monetary policies, suggested by Keynes to counter the twin evils of a capitalist economy, namely, recession and inflation.
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Reference
Keynes, J. M. (1936). General Theory of Employment, Interest and Money. London: Macmillan.
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Ghosh, C., Ghosh, A.N. (2019). John Maynard Keynes and Stabilization Measures. In: An Introduction to Economics. Palgrave Pivot, Singapore. https://doi.org/10.1007/978-981-15-1056-4_4
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DOI: https://doi.org/10.1007/978-981-15-1056-4_4
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Publisher Name: Palgrave Pivot, Singapore
Print ISBN: 978-981-15-1055-7
Online ISBN: 978-981-15-1056-4
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