classical economist vs keynes

User Generated

jnpxre0504

Economics

Description

what's the difference between classical economist and john maynard keynes. i have to figure out which side i lean towards

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Explanation & Answer

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Classical economists believe that imperfections in the economy are automatically corrected while Keynesian economists believe the self-correcting mechanism in the economy is not achievable.

Classical economists believe in the laissez-faire attitude by the government while the Keynesian economists believe that government intervention is necessary in the economy.


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Anonymous
Very useful material for studying!

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