chp 12

chp 12

by Hudson Stiver -
Number of replies: 0

McMaken throughout the video explains that if Keynes' theory was correct then it would have already happened. Instead of economic success form Keynes' ideas, the US has seen set backs such as depressions and recessions. It is shown that free market economies have the best lasting impact, even though the short term effects might not be as desired. Overall, if the government's idea to control and plan the economy was efficient, it would be in effect right now and the US would be thriving in that. But that is not the case. The free market economy proves to be the most efficient economy, because if Keynes' was right, why isn't that the case for the economy right now?

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