Classical vs Keynesian

Classical vs Keynesian

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  • I believe that the Classical theory is superior.
  • Mino, that is where you are wrong, my friend.
  • Oh, why's that?
  • The Keynesian theory is the superior theory. 
  • Why do you think that, Drea ?!
  • Well, the classical theory's view on govt intervention is that it should be limited or restricted as possible on the economy. 
  • Well, what's the Keynesian theory's view on government intervention ? 
  • Well, unlike the Classical theory, the Keynesian theory supports government intervention.
  • What's your reasoning then ?
  • Well the theory's reasoning is that the government can help reduce recession with govt spending, and fiscal policy.
  • Well some of the classical economists we have are David Ricardo and Adam Smith. 
  • Ok, well some of the Keynesian economists we have are William Vickery and Basil Moore. 
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