Paul Samuelson, Abba Lerner and John Kenneth Galbraith in relation to Assignment

Paul Samuelson, Abba Lerner and John Kenneth Galbraith in relation to the idea of human flourishing - Assignment Example In one of his principles he stated that a government should maintain a reasonable level of demand at all times (Samuelson & Puttaswamaiah, 2002). In this consideration, he also added that in case of too little spending in the society; the government should reduce taxes or increase its own spending to correct the situation that also leads to unemployment. The other principle stated that by borrowing money when there is need to raise the interest rate and through lending money when there is need to reduce the rate of interest, the administration should be able to uphold the rate of interest that encourages the best amount of investment (Samuelson & Puttaswamaiah, 2002). All the two finance principles were summarized in his principles with the limiting the national debt principle so that all the needs of the people in the society are taken into consideration. John Kenneth Galbraith also had principles that argued and was based on understanding the trouble that exist currently within economics and economic policies. The works that were created by him were partly rooted to Marshall’s theory of the firm most of his principles were followed after the post war economy was dominated by bureaucratic corporations with more demand of consumers and also financiers. The principles he developed believed on expenditure as a factor that would be used to satisfy the needs of the consumer. The policies that are developed by the government are those focusing on consumer satisfaction.