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Comparisons Of Classical And Keynesian Thought.
Part 1 of Paper
....een around longer than Keynessian and it was in
all probability the only real school of thought from 1776 to the 1930's.
The Classical thought is one that had its origins in Britain and with
British's economists. As early as Adam Smith and until the great depression,
most all economists were Classical economics. As.... Part 2 of Paper
....ere in place during
this time work? This is a Question that is still debated today.
The opposite approach is the Keynesian thought. This school of thought
would believe in a more active approach. That is the Federal Government and
the Federal Reserve should play an important role in attempting to
stabilize the economy by "fine-tuning", that is look for the problem, find
out what is wrong and fix it.
Probably the biggest test of not only our economy but also our
economists was the Great .... |
| Number of words: 429 - Approximate pages: 2 |
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