Keynesian and Marxist Economics and Kremlin Capitalism

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Exploring the evolution of economic thought, this book delves into the theories of John Maynard Keynes and Karl Marx, highlighting their significant impacts on economic development. It also summarizes "Kremlin Capitalism," which analyzes Russia's economic state in the early 1990s. Keynesian economics advocates for government intervention to stimulate demand and growth, emphasizing fiscal policies like infrastructure spending and unemployment benefits. However, excessive application can lead to inflation, a concern that emerged prominently during the Great Depression and influenced Roosevelt's New Deal.