John Maynard Keynes (in contrast)

John Maynard Keynes was an influential economist who believed that during economic downturns, government intervention is necessary to boost demand and help the economy recover. Unlike classical economists who thought markets naturally adjust on their own, Keynes argued that increased government spending and lower taxes could stimulate growth, reduce unemployment, and prevent prolonged recessions. His ideas, known as Keynesian economics, shaped modern economic policy, especially during the Great Depression, emphasizing active government roles to stabilize economies rather than relying solely on markets to self-correct.