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The jug-and-mug theory was introduced by economist John Maynard Keynes. This theory is a metaphor for understanding the relationship between savings and investment in an economy, suggesting that just as a jug holds a fixed amount of liquid, the economy has a limited capacity for savings that can be effectively utilized for investment. Keynes emphasized that effective demand is crucial for economic growth, and the theory illustrates how savings can be transformed into productive investment.

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