Why did Keynesian economics gain widespread acceptance?

Show Answers

It accounted for stagflation experienced in the late 1970sIt explained demand-driven inflation during the 1960sIt clarified the reasons behind slow economic growth in the 1950sIt provided an explanation for the long-lasting high unemployment during the Great Depression

Explanation

Keynesian economics became popular because it offered a framework to understand the persistent high unemployment rates that characterized the Great Depression, something previous economic theories struggled to explain.