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Economics and the Economy in Britain:

Keynes, very influential economist in Politics and the British Economy after
WW1.
After WW1 there was an economic depression. Due to move from
Neo-classical laissez- faire economic model, this meant loss of free trade
between countries. Due to increased competition as other countries
started…

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Protectionism was brought in straight away to protect industries, brought
in by all countries world-wide.

Keynes- General Theory 1946- expectations of the economy. Keynes said
that "You cannot expect the economy to fix itself".

Politicians started to realise, a fall in the economy e.g. if the demand for
products goes…

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if you provide people at bottom with jobs, they are more likely to spend

more money quickly, whereas people at top save money.


Keynes Macro/ micro economics: Macro- Big spending/ saving and micro

Independent spending/ saving.

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