Governments should spend their way out of depression
Borrow money to be repaid after economy recovers
Deficit Financing
Projects should be of value to the country
Went against Adams Smith's theories
USA, Japan and Hitler's Germany all use this with success.
Summary
He replaced Roosevelt after he died. He thought that the government should spend there way out of the depression. He did everything that went against Adam Smith's Theories which ended up kind of helping the economy get out of the depression.
Quote
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone. - Keynes
Question
How would have happened if Keynes wasn't successful with the ideas he introduced while in office.