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Alessia Meloni

Keynes noted that meeting demand doesn’t prevent unemployment.
To avoid this, state intervention is needed, acting with the deficit spending policy that helps to increase global demand, in turn increasing consumption and investment, that is, economic growth.

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Francesco Palazzi

The entrepreneurs themselves to achieve their private goals, however they would have reached collective goals and therefore the intervention of the state is useless.

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Gabriele Monti
Francesco Palazzi

In 1929 there was a great economic crisis, called the Great Depression or Wall Street Collapse. There was a collapse linked to exports and consequently to a collapse of the overall income.
To stem the collapse, the only way is the intervention of the state with the implementation of economic plans, such as the New Deal in the USA.

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Mirko Falleti

The New Deal was a series of programs,public works projects and financial reforms by President Roosvelt under advice of John Kaynes and other economics experts,between 1933 and 1936.Is a plan to win the great depression which Is based on a deficit spending policy,included laws to safe the american banks.To win the Great Depression the state had to change the economic system to create new jobs for its people who had lost their jobs after the depression.

To make this, the state, had to invest in public works such as bridges or roads and to do so it took loans from the people who took an interest.

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Gabriele Monti
Alessia Meloni

John Maynard Keynes was born in 1883 in Cambridge (England).

His name is famous in the economic world to be considered one the most important economist of the XX century. His ideas that would have influenced not only the economic world, but also the political one.
Son of the Cambridge economist John Neville Keynes and of the civil rights activist. He was admitted to the University of Cambridge, at first dealing with mathematics but his interest in politics led him to move to the field of economics.

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Mirko Falleti

This theory was denied by the Wall street Crash of 1929,also know "Black Thursday",to get out of the crisis,state intervention was needed with a deficit spending policy.

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Flavia Gubbiotti

The New Deal plan was implemented by Roosevelt, who was the President of the United States.

He was famous and recognized for this reform program. Thanks to the New Deal the United States surpassed the Great Depression of the 30s, definitively changing economic policy.
With this program he tried to reduce the unemployment by increasing public works. He supported the agricoltural prices and the public services like the transport.

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Flavia Gubbiotti

Before the famous crisis of 1929, there were various economic models, but there was a more developed model called THE LIBERAL MODEL.
It comes from the LAW OF SAY.

Jean-Baptiste Say was a French economist, born in Lyon in 1767 and he died in 1832. His law, also called THE LAW OF OUTLETS, is based on the balance between Supply and Demand.

The equality of this two elements makes it possible to avoid creating overproduction and underemployment crises lasting over time.

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A novelty introduced by Keynes to the economi of XX century is the Keynesian Multiplier which is a macroeconomic analysis tool that calculates how income changes as one of its components changes, such as consumption, investment and public spending. IN particular, the Keynesian Multiplier is that number, always greater than 1, which applies to the variation of the demand to obtain the variation of the national income.

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The State would have intervened with a policy theorized by Keynes of the Deficit Spending, a term by which we indicate the increase of the public deficit due to a growth in public spending which aims to lead to an increase in demand, jobs, investment by contractors and a level of activity of the economic system. According to Keynes, the State must increase the public spending to the point of resorting of public debt, if the tax levy isn't enough.