Economic studies

Economic studies

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  •        Adam Smith                                          John Keynes
  • There's not much demand going around right now.
  • No! That would only cause inflation.
  • The government should spend money to create jobs.
  • If the government puts more money into the economy, that diminish the value of money and cause inflation. They should stay out of it.
  • If the government creates more jobs, that would mean more products will be available to buy so inflation wouldn't be a problem.
  • Supply controls demand so if there are more products made demand will go up.
  • That would be a bad idea because under-spending could still occur.
  • I, Keynes,  am correct because the government can control the output of businesses and help in depressions and recessions. It is unreliable to expect the economy to get itself out of a depression or recession because people could still under spend and have no confidence or anything to boost them.
  • David Ricardo and Jean-Baptiste Say support Classical economics with Smith.  Roy Forbes Harrod and Sir John Richard Hicks support Keynesian economics with Keynes.
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