What is the Keynesian prescription?

What is the Keynesian prescription?The Keynesian prescription was a tool employed by John Maynard Keynes to show that in times of depression it was up to the government to step in where dispirited businesses would not, and spend money through fiscal policy on anything that would get the unemployed back to work. Keynes promoted the use of fiscal policy by a government in order to achieve the above-mentioned objective. Fiscal policy referred to instruments (taxation, public expenditure, public debt) by which a government tries to regulate the economic affairs of the economy. The New Deal presented by former US president Franklin D Roosevelt is a good example of this theory. Glimpses of the Keynesian method could be seen in the $700-billion bailout package given by the US Congress and the Rs 20,000-crore financial aid given by the Indian government to nine nationalized banks, in which the governments were not directly involved but it was a mode of intervention in a free market.

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National Creators Award: Categories, Winners and Recognition

National Creators Award: Categories, Winners and Recognition

National Creators Award (NCA): Creators Awards 2024 took place on 08th March 2024, Prime minister …