Keynes's Theory on America's Great Depression An Essay Eighty Years since the First New Deal - 1933-1934 - Agree with New Title

• Main Authors: Nguyễn, Quốc Việt, Nguyễn, Minh Thảo
• Format: Article
• Language: English
• Published: Đại học Kinh tế 2016
• Subjects: Great depression; Keynes’ theory; economic history
• Online Access: http://repository.vnu.edu.vn/handle/VNU_123/14011
• Institution: Vietnam National University, Hanoi

The New Deal was a packet of economic policies and measures introduced by the American government to deal with the Great Depression during the years 1929-1933. The First New Deal was introduced in the first term of the thirty-second US president, Franklin Roosevelt. After 80 years, we can ask questions about the impacts of The New Deal, especially on the increasing influence of state interference and regulation of the economy. To analyze the basis of The New Deal, we need to understand Keynes’ theory on America’s Great Depression. Keynes is known as the “father of modern economics” because he was the first to accurately describe some of the causes and cures for recessions and depressions. Do Keynes ideals help us to understand the current economic recession of the world economy that has some things in common with the Great Depression, and to understand the current economic policies and measures of governments around the modern world? Those questions are the main goal of our paper on 80 years since the “First New Deal” (1933-1934)