Good problem solvers identify their problem, offer a methodology for solving it, and suggest solutions. For Keynes the problem was both real and theoretical: unemployment. A major issue for governments during the Great Depression, unemployment was also a problem for classical economics. In classical economics, theoretically, unemployment would always disappear. Keynes offered both an explanation of why this was not the case in practice, and a range of solutions that could be implemented through government monetary policy.
Good problem solvers identify their problem, offer a methodology for solving it, and suggest solutions. For Keynes the problem was both real and theoretical: unemployment. A major issue for governments during the Great Depression, unemployment was also a problem for classical economics. In classical economics, theoretically, unemployment would always disappear. Keynes offered both an explanation of why this was not the case in practice, and a range of solutions that could be implemented through government monetary policy.
An Analysis of John Maynard Keyne's The General Theory of Employment, Interest and Money
112An Analysis of John Maynard Keyne's The General Theory of Employment, Interest and Money
112Product Details
ISBN-13: | 9781912127900 |
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Publisher: | Macat Library |
Publication date: | 07/04/2017 |
Series: | The Macat Library |
Pages: | 112 |
Product dimensions: | 5.06(w) x 7.81(h) x (d) |