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| Topic: |
Biographies
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| Number of pages / Number of words: |
4 / 1062 |
Essay's paper body
went from the
greatest depression it has ever known to the greatest economic boom it has ever
known. The success of Keynesian economics was so astounding that almost all
capitalist governments around the world started using it. And the result was the
extinction of the economic depression! Before World War II, eight U...
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And the result was the
extinction of the economic depression! Before World War II, eight U.S.
recessions worsened into depressions (1807, 1837, 1873, 1882, 1893, 1920, 1933,
and 1937). Since World War II, under Keynesian policies, there have been nine
recessions (1945-46, 1949, 1954, 1956, 1960-61, 1970, 1973-75, 1980-83, 1990-92
), but not one has turned into a depression...
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