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Week 3 Discussion 1 My group is Keynesian. Compare and contrast classical economics and Keynesian economics. What are the major differences between them? There are multiple differences between the classical traditions and the Keynesian. The major differe

Week 3 Discussion 1

My group is Keynesian.

Compare and contrast classical economics and Keynesian economics. What are the major differences between them?

There are multiple differences between the classical traditions and the Keynesian.  The major difference is Keynesian believes the government should pay an active role in regulating the economy, whereas the classical tradition believes the economy should be left alone and allow to regulate itself.  Keynesian theory believes that when the economy is doing well and the population is making money, they will spend money but when the economy falls, the population will curb their spending because the income is no longer there. 

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