Intervention from the State

This is what Milton Friedman says about fine tuning of the economy. Keynes developed a core theory of autonomous spending, investments by business enterprises, spending by individuals, and it might be deficit-spending by government. Theory of “pump priming” was born. The massive growth continued ever since the Great Depression. “Instead of the problem of too little money, we are faced with the problem of too much money. People came to believe that free market capitalism has failed.” But it is a failure of government, ever since the government has been fine tuning the economy.