keynes v chicago school
Post an initial response of 1000 word (maximum) to the Discussion Board that addresses the following questions:
- What are the core differences between Keynes and Friedman’s economic philosophies?
- Describe the proper role of the government in the economy according to Friedman and according to Keynes.
- How would Keynes and Friedman likely evaluate fiscal policy in the U.S. in the years since the great recession of 2008 began?
- Which of the two schools of thought do you find more compelling? Why?
References:
Government and Business:
American Political Economy in Comparative Perspective
Chapter 10, “Business and Economic Policy†(pp. 207–226)
Lehne, R. (2013).
“Once Again: Why Socialism Won’t Work.”
(New York Times)
“From Keynes to Roosevelt: Our Recovery Plan Assayed†(New York Times)
The British Economist writes an open letter to the president finding reasons, in our policies, for both hopes and fears.
New York Times (1933, December 31).Keynes, J. M. (1933, December 31).
-
“The Taxes Called Deficits” The Wall Street Journal
p. 28. (1984, April 26).Friedman, M. (1984, April 26).
“Balanced Budget: Amendment Must Put Limit on Taxes” The Wall Street Journal
p. A12. (1995, January 4).Friedman, M. (1995, January 4).
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