{"id":2256,"date":"2015-06-19T20:51:10","date_gmt":"2015-06-19T20:51:10","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymacro1xngcxmaster\/?post_type=chapter&p=2256"},"modified":"2018-04-30T16:37:32","modified_gmt":"2018-04-30T16:37:32","slug":"introduction-to-keynesian-and-neoclassical-policy-prescriptions","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/chapter\/introduction-to-keynesian-and-neoclassical-policy-prescriptions\/","title":{"raw":"Introduction to Keynesian and Neoclassical Policy Prescriptions","rendered":"Introduction to Keynesian and Neoclassical Policy Prescriptions"},"content":{"raw":"

What you'll learn to do: compare viewpoints on government spending and taxes between the Keynesian and Neoclassical perspectives<\/h2>\r\n\"Person<\/a>\r\n\r\nIn previous modules, we've learned about both the Keynesian and Neoclassical perspectives on the macro economy.\u00a0 Neoclassicals take a laissez-faire approach to macro policy. They believe that the economy is self-correcting, and doesn't need government intervention. Indeed, we will see that Neoclassicals believe that government intervention is counterproductive. Keynesians take a more active approach. They believe that the economy takes too long to correct itself and that government has a responsibility to speed things up and minimize the adverse effects of unemployment, inflation and other economic problems.\r\n\r\nIn this section, we will drill down into the two perspectives to develop a more nuanced understanding of their strengths and weaknesses. In the process, we will create a stronger understanding of both the power and the limits of fiscal and monetary policy.","rendered":"

What you’ll learn to do: compare viewpoints on government spending and taxes between the Keynesian and Neoclassical perspectives<\/h2>\n

\"Person<\/a><\/p>\n

In previous modules, we’ve learned about both the Keynesian and Neoclassical perspectives on the macro economy.\u00a0 Neoclassicals take a laissez-faire approach to macro policy. They believe that the economy is self-correcting, and doesn’t need government intervention. Indeed, we will see that Neoclassicals believe that government intervention is counterproductive. Keynesians take a more active approach. They believe that the economy takes too long to correct itself and that government has a responsibility to speed things up and minimize the adverse effects of unemployment, inflation and other economic problems.<\/p>\n

In this section, we will drill down into the two perspectives to develop a more nuanced understanding of their strengths and weaknesses. In the process, we will create a stronger understanding of both the power and the limits of fiscal and monetary policy.<\/p>\n\n\t\t\t

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Candela Citations<\/h3>\n\t\t\t\t\t
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