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a phrase from a poem by ralph waldo emerson about the battle of lexington and concord. emerson's words read, “here once the embattled farmers stood / and fired the shot heard round the world.”

john maynard keynes developed new economic theories in response to the : b) great depression of the 1930s. his theories are so important that they are known as "keynesianism". in his works he supports the idea of a government with deeper involvement and intervention to end the great depression.