CYCLICALISTSPopular before the Great Depression . It argued the economy went through natural cycles of growth, stagnation, and collapse. The collapses were necessary for the next period of growth (creative destruction) and any attempts to stop the decline were not only fruitless by might damage the coming period of growth. Often blamed high inventories for causing depressions.KEYNESIANDeveloped by British economist John Maynard Keynes and further developed by J.K. Galbraith. It laid much 9442
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