Economic theory, social behavior, and general public perceptions of a market economy were all impacted by the Great Depression. Respond to this questions
A. What were some of the solutions that Keynesian economists suggested to get society out of the Great Depression? The logic behind them is extremely crucial, therefore please explain.
B. Describe how, compared to the liberals ('free markets') and the radicals (socialists) in the USA in the 1930s, the Keynesian approach to guiding economic public policy constituted middle way' or 'centrist' approach.
C. Describe the new Keynesian "consensus" perspective that governed post-World War II America, including how the government controlled the market system during this time and how it collapsed in the 1970s, allowing a new, more "pro-business" approach to economic public policy to emerging in the 1980s.
D. Finally, what are some of the biggest contrasts between the post-World War II era (for example, the "Golden Age") and the "pro-business" neoliberal era, and how can we explain them?
Economic theory, social behavior, and general public perceptions of a market economy were all impacted by the Great Depression. Respond to this questions
A. What were some of the solutions that Keynesian economists suggested to get society out of the Great Depression? The logic behind them is extremely crucial, therefore please explain.
B. Describe how, compared to the liberals ('free markets') and the radicals (socialists) in the USA in the 1930s, the Keynesian approach to guiding economic public policy constituted middle way' or 'centrist' approach.
C. Describe the new Keynesian "consensus" perspective that governed post-World War II America, including how the government controlled the market system during this time and how it collapsed in the 1970s, allowing a new, more "pro-business" approach to economic public policy to emerging in the 1980s.
D. Finally, what are some of the biggest contrasts between the post-World War II era (for example, the "Golden Age") and the "pro-business" neoliberal era, and how can we explain them?
