IndexIntroductionKey PointsMacroeconomic ConceptsApplicationCritiqueCompare and ContrastConclusionReferencesIntroductionThe selected theory is the Keynesian theory which is articulated in an article published in the Washington Post. The article published by Carter (2020) is titled “Trillion-Dollar Stimulus Isn't About Cash.” It's about restoring trust in the system.' It was published on March 18 to analyze the explanation of Keynesian theory in the coronavirus era. Zachary D. Carter is a senior reporter at Huff Post. He is also the author of the forthcoming biography “The Price of Peace: Money, Democracy and the Life of John Maynard Keynes.” Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayKey PointsThe article argues that the global economy is headed for an irreversible recession. He says the question is how severe the recession will hit the economy, with millions of people losing their jobs, incomes disrupted and businesses closing. The article is based on John Maynard Keynes' argument that the government should spend more money to fight recession, even if budget deficits will lead to additional borrowing (Carter, 2020). Currently, the world, including the American economy, will need a huge amount of money to help those who are under enormous stress. It also focuses on Keynes' argument that economics is a large-scale therapy to calm anxious minds (Krugman et al., 2017). Today, in the era of the coronavirus pandemic, the world needs a calming therapy. Carter (2020) continues to point out that Keynes was a numbers prophet who explained that during the world war businesses were not ready for sudden change. They didn't know what time the war would end to resume normal activities. Likewise, companies today are unable to estimate the impact the coronavirus pandemic will have on their businesses and for how long. Carter (2020) also argues that people cannot calculate their benefit or value if they do not see beyond the horizon. As such, the current pandemic requires the government to make various efforts to revive or restart the economy. Macroeconomic ConceptsCarter (2020) presents various macroeconomic concepts in the article articulating Keynes' arguments. One of the concepts is that the government needs to spend more money to jump-start the economy. It also identifies that government spending should be such that it restores tranquility among citizens (Sebastiani, 2016). The article argues that while businesses are panicking, it is only the political class that can get people out of the crisis. One of their tactics would be to convince people that the situation will improve soon (Krugman et al., 2017). A reduction or elimination of anxiety would ensure that people do not make decisions based on fear. Another macroeconomic concept is that the government should increase its spending by supporting needy families and companies on the verge of collapse. The aim is to increase spending and thus allow companies to continue operating, reduce the unemployment rate and increase the circulation of money in the economy (Krugman et al., 2017). Carter (2020) argues that the private sector cannot lift the economy out of trouble and therefore the government must step up to relieve the economic stress. The article indicates that the pandemic has led to a disruption in supply and demand. Supply chains have been disrupted as demand continues to grow. Carter (2020) argues that it is the government's job to restore the balance between supply and demand. AOne of the problems identified is the growing shortage of medical supplies needed to address the pandemic. The article argues that the role of government is to increase people's confidence even if they have huge debt. Carter (2020) argues that an increase in confidence will ultimately take care of the economy's debt and budget deficits. For example, according to Keynes, the government should spend more money to save struggling companies from total collapse (Michie, 2018). The goal is to ensure that distribution lines have not been compromised and that the supply of critical products is sufficient. According to Carter's (2020) article, government intervention remains critical to revive the sluggish economy. Keynes argued that active government intervention is important during a recession. Carter (2020) states that wages and job opportunities cannot support the economy and therefore the need for further interventions. He also states that no matter how corrupt governments may be, they need to create job opportunities and share prosperity with everyone. According to Murakami (2019), Keynesian theory indicates that if a government fails to create job opportunities or restore its ability to purchase products and increase supply. ApplicationThe US government is working on Keynes' argument by ordering meat companies to keep their facilities open to avoid a meat shortage. The order despite the high infection rate among meat producing companies which have recorded thousands of infections. Another attempt by the government is to reopen the economy to avoid further job losses and the collapse of companies (Carter, 2020). States have outlined reopening strategies even though the risk of infection is still high in states like New York. The objective is to restore the confidence that Keynes believed was crucial to preventing the economy from entering into recession. Criticism The article articulates various decisions that political leaders should make to restore people's trust. However, some of Keynes' arguments do not fit well with the current pandemic. In the 1920s, when over a million British citizens were made redundant, it was important for politicians to urge people to maintain hope (Murakami, 2019). However, Carter (2020) does not present an argument that can be applied to the current situation. The reason is that state governments are pushing to reopen while the risk is still high. The risk could therefore lead to a second wave of infections, which could have serious consequences for people and the economy. It is also controversial as it argues that it is politicians who can free people from turmoil (Datta, 2020). However, most politicians act in such a way as to suggest that they are the preferable candidates in the next elections. The decisions of political leaders are still conditioned by the desire for re-election and therefore cannot be effective. In the last paragraph the article is controversial because it offers no hope for tomorrow. Carter's (2020) argument is that the government should work to restore citizens' trust. However, it ends by indicating that, in the long run, we will all be dead and that anything is possible. It is a weakness to conclude an article on Keynesian theory which, however, would offer hope to the world during the pandemic. Indicating that we will all die sooner or later is a way of demonstrating that the death toll could continue to rise and that the economy could deteriorate further (Sebastiani, 2016). This is therefore a weakness since it would be better to end the article with words of hope. It is also important that the author avoids borrowing,.