Explain Why, According to Economist John Maynard Keynes, It Does

question 40

Essay

Explain why, according to economist John Maynard Keynes, it does not work to stimulate the economy to cut taxes for rich people and why it does work to increase government spending.

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Definitions:

Investing More Effort

The action of dedicating additional energy and resources towards achieving a task or goal.

Equal Work

The principle that individuals should receive equal treatment and opportunities in the workplace, regardless of personal characteristics unrelated to their job performance.

Equal Outcomes

Describes a scenario where all participants or entities achieve the same results, regardless of differences in effort, skill, or starting conditions.

Distributive Justice

The perceived fairness of the distribution of resources or rewards among individuals in a group or organization.