WEEK 3 DISS
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Compare and contrast classical economics and Keynesian economics. What are the major differences between them?
When comparing the major difference between classical economics and Keynesian economics the major differences are that classical economics believe that government should be minimal while Keynesian economics believes that government invention helps expedites economic growth. The classical tradition economists believe that the economy tends towards a level of output associated with full employment and that most of the policies are ineffective, ill timed, and harmful; their approach is to leave is be and let it work itself out (Amacher & Pate, 2019). There is something to be said for that, but the Keynesians economist believe that the government should intervene to keep the...