Whose economic theories influenced FDR's approach during the Roosevelt Recession?

The correct answer is John Maynard Keynes, whose economic theories significantly influenced Franklin D. Roosevelt's approach during the Roosevelt Recession. Keynes championed the idea that during times of economic downturn, the government should increase spending to stimulate demand and pull the economy out of recession. This represented a shift from previous economic doctrines that emphasized limited government intervention and fiscal restraint.

During the Roosevelt Recession of 1937-1938, a period within the broader context of the Great Depression, the economy began to stagnate after initial recovery signs from New Deal programs. FDR's adoption of Keynesian principles encouraged increased government expenditures and deficit spending to boost economic activity and mitigate unemployment, reflecting Keynes' belief in active government intervention as essential for economic recovery.

In contrast, the other economists mentioned did not have the same impact on FDR during this specific period. Adam Smith, often credited as the father of capitalism, advocated for free markets with minimal government intervention, which was contrary to the approach needed during the recession. Milton Friedman's focus on monetarism emerged later and was not widely recognized during FDR's presidency. David Ricardo’s theories concentrated on comparative advantage in trade and were less applicable to the issues faced by the U.S. economy during the Great Depression.