After “Great Depression of 1929” who among following suggested for ‘strong state intervention’?
A. Adam Smith
B. JM Keynes
C. Paul Samuelson
D. Paul Kruger
Answer:B
After “Great Depression of 1929” who among following suggested for ‘strong state intervention’?
A. Adam Smith B. JM Keynes C. Paul Samuelson D. Paul Kruger
Explanation: The ‘strong state intervention’ was suggested by J.M. Keynes and such a policy did really help the Euro-American countries to mitigate the crisis. The favour for the state intervention in the economy was being reversed by the Washington Consensus. But soon this consensus was also to be replaced by another development strategy.