Description
Debate which school of economic thought(the Keynesians, Monetarists, or the Austrians) has it right concerning how to handle the economy.
Explanation & Answer
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Running Head: ECONOMICS
1
Economics
Student Name
Institutional Affiliation
ECONOMICS
2
Economics
In exploring the three schools of economic thought, a learner gets to understand how each
of the economic thoughts impacts the world’s economies through their distinctive theories,
methods, opinions, and economic concepts. When focusing on this economic triad of theory an
economist or learner is drawn to why Monetarist, Keynesian, and Austrian are considered the top
schools of economic thought and how they differ in each economic aspect. However in arguing
which of these concepts stands to impact the economy as illustrated by Baker et al. (2016), various
indicators of the economy are reviewed such as fiscal policy, wage rigidity, unemployment,
government borrowing and crowding out. The school of economic...
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