An open letter to President Roosevelt_an统一架构回顾
An open letter to President Roosevelt由刀豆文库小编整理，希望给你工作、学习、生活带来方便，猜你可能喜欢“an统一架构回顾”。
An open letter to President Roosevelt
By John Maynard Keynes
An Open Letter to President Roosevelt is a letter written by John Maynard Keynes in 1933 to Franklin D.Roosevelt in which Keynes offered his overall support for Roosevelt's policies and sought to advise Roosevelt on economic policy regarding recovery from the Great Depreion and public social policy.In the letter, Keynes regarded Roosevelt as the ruler whose general outlook and attitude to the tasks of the government were the most sympathetic in the world and the only one who saw that neceity of a profound change of methods and was attempting it.While supportive of Roosevelt’s busine and social reform initiatives, Keynes gave a higher priority to recovery than to reform.He criticized Roosevelt’s New Deal for having too much reform and too little recovery.He wrote that speed and quick results were eential to recovery, and that while reform was also urgent, hasty reform may impede and complicate recovery and overwhelm the administration.He believed that succe in short term recovery would raise the prestige of the Roosevelt administration and give it the “driving force to accomplish long-range Reform”.Thus, he concluded that over the last months, the order of urgency between measures of Recovery and measures of Reform is not duly observed.As the object of recovery is to increase the national output and stimulate employment, given the current situation, public authority must create additional current incomes through the expenditure of borrowed or printed money.He criticized the policy of increasing output by restricting supply.Since there can’t be raising output without raising prices, he aerted that it is eential to ensure that the recovery shall not be held back by the insufficiency of the supply of money to support the increased monetary turn-over.Advising against raising taxes to fund the recommended spending hikes, Keynes laid emphasis on the increase of national purchasing power resulting from government expenditure which is financed by Loans.Keynes advised Roosevelt not to be influenced by the Quantity Theory of Money, thinking that raising output and income through increasing the quantity of money can’t addre the root cause of the problem.In the end, Keynes put forward some suggestions.First, a large volume of Loan-expenditures under Government auspices is imperative and preference should be given to those which can be mature quickly on a large scale, in order to stimulate consumption and employment, thus activating recovery.Second, US should maintain cheap and abundant credit and in particular reduce long-term rates of interest.
