GNP

The Great Depression and the Keynesian Revolution (2012)

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In 1932, President Herbert Hoover spoke enthusiastically about financial recovery while John Maynard Keynes expressed doubts. In 1936, Keynes published The General Theory of Employment, Interest, and Money, developing a theory that later became the basis for public policy in Washington.

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00:28
The Great Depression and the Keynesian Revolution

GNP/GDP (2012)

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During the Great Depression, Simon Kuznets led an investigative study resulting in the first publication of the nation’s national income. It was called the Gross National Product (GNP). Using GNP to assess the overall production-to-consumption ratio of the U.S., President Roosevelt entered World War II without jeopardizing the basic needs of U.S. citizens.

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High
Professional
Length: 
00:28
GNP/GDP

Fiscal Policy: Can We Control the Economy? (2012)

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In 1954 relying on "automatic stabilizers," President Dwight Eisenhower withheld raising taxes in order to encourage consumer spending. In the 1960s, newly elected John F. Kennedy and economic advisor Walter Heller pushed Congress to approve a $12 billion tax cut stimulus.

Grade Level: 
High
Length: 
00:28
Fiscal Policy: Can We Control the Economy?