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...... The Keynesian economics were implemented onto a mixed context, in which the opinions on liberalization and state intervention were divided. They stated that the government should step aside and let the market establish its rules based on demand and offer, otherwise said, based on earnings and spendings. However, the Keynesians argued that economic crisis occurs when the populations stops spending, and it is now that the government should interfere and ensure a continuous circulation of goods and capitals in order to reduce the crisis (Wise Geek, 2003-2008). In other words, the Keynesian economics were implemented on the belief that low levels of consumptions generate the economic crisis, and that a fall in national income, lack of demand for goods, and rising unemployment should be countered by increased government expenditure to stimulate the economy (The Free Dictionary by Farlex, 2008)
Not long after John Maynard Keynes stated his principles, the allied states signed the monetary agreement at Bretton Woods. The new system was basically centered on creating international price stability, which contradicted the ideas of Keynes and his growth theories. He stated that the international stability would eventually be reached through trade, but his beliefs were not shared by the

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