Tuesday, December 9, 2014

Keynesian or Classicalist?

Though the classical view is theoretically better, I find myself siding with the Keynesian perspective. The classical view focuses on making the economy better in the long run, however, this requires a long wait in which the economy is not good. This causes a great deal of hardship for people. However, the Keynesian point of view focuses on immediate effects, so when the economy is in a recession, people can depend on the government to make a policy change to immediately make a difference.