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Comparisons Of Classical And Keynesian Thought.
Beginning of paper
In the comparison of the two thoughts one must understand that Classical
thought is one that has been 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 t ....
Middle of paper
.... 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 Depression. During this time it seamed that the
Cl.... |
| Word count: 429 |
Page count: 2 |
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