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Comparisons Of Classical And Keynesian Thought.
Beginning of Essay
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 .... Middle of Essay
.... with the Classical thought, a government should do nothing
and play a non -active and very passive role in the economy, their for the
system should work. But, it did not work? Did the Government policy's
(those of the congress and the federal reserve) that were 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 ....
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Words: 429 - Pages: 2
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