The Idea That Governments Should Intervene in the Economic Cycle

question 19

Short Answer

The idea that governments should intervene in the economic cycle when there were times of unemployment and stagnation by "pump priming" was developed by  ____________________.

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Definitions:

Employee Empowerment

The practice of giving employees the autonomy, resources, and skills to make decisions within their roles, aiming to improve satisfaction and productivity.

Poka-yoke

A Japanese term for a mistake-proofing technique designed to avoid errors in the manufacturing process, enhancing quality control.

Pareto Analysis

A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It is based on the principle that 80% of effects come from 20% of causes.