Provide a 4 pages analysis while answering the following question: A Tricky Problem of Stagflation. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. It was pathbreaking in several ways, in particular, because it introduced the notion of aggregate demand as the sum of consumption, investment, and government spending. and because it showed (or purported to show) that full employment could be maintained only with the help of government spending (Library of Economics and Liberty 2008.) By 1965, there was a backlash against Keynesian economic thought. “In 1965 Scott Gordon declared that, in Canada, throughout the 1940’s and 1950’s ‘Keynesian statements were confined to the abstract planes of discourse. they were not connected with actual policy’” (Neill 180). However, Gordon did not take into account that Keynesian economics assumed a closed, and mature economic system, and the Canadian economic climate at the time was open and small (Neill 173) Gordon was not alone, however, many economists shared his views, and this was the downturn of the popularity of Keynesian economics.