Hayek And Disagreement With Keynes Quizlet
I agree more with Hayek than Keynes because he is against unemployment benefits. This means that people should stop relying on the government not to find jobs when they give benefits, if they are lazy. (Article)2) People should work harder and work longer to get a better life than they are given life. People should have more work and longer working hours so that they can achieve a better way of life than a better way of life given to them. (Battle of the Century) 3) That we should fear the boom, because low interest rates and cheap money will soon be mowed down and they harm the government more than anything, because it is difficult for the government to recover from bankruptcy. Abin Manuel 5. Period I agree with Hayek, a) governments should not interfere in market issues because they detach themselves when prices are all going towards equilibrium. b) Full employment is not possible because opportunities are scarce and cannot be forced, we cannot break the window just to make sure the repairer has a job. c) The goal of people in a capitalist system is the accumulation of wealth and the distribution of labor, which is why the austerity measures imposed by the government are bad because they discourage consumers from consuming as much as they want to reduce demand. Kedar Pandya – 2nd period Although Hayek is right most of the time on laissez-faire, Keynes is right the rest of the time.
The rest of the time is when the economy is fighting, and that`s the most important thing. 1. The economy is like a blocked engine, it needs a spark (Rap Battle Round 2). a weakening economy will not correct itself in a depression due, among other things, to speculation. The stock market crash of 1929 was the result of speculation that led to an intensification of trade and, ultimately, to losses of money. The government must commit to giving this “spark”. Spending of any kind is good for the economy (Rap-Combat Round 2). The economy is based on spending and buying, if there is no spending, there is no buying. If there are no jobs or sources of income, there are no expenses, no purchases, and the economy stagnates or falls, as in any depression or recession.
3. The recession of 2008 and 2009 would have been much worse if keynesian economics had not been used (fight rap 2). If the government hadn`t been involved, it could have been as bad as the Great Depression. The only reason the recession has stopped is public spending. Robert SlaybaughPeriod 4 Although there were significant differences in their respective views on economic methodology and monetary policy, Friedman endorsed many aspects of Hayek`s work in the fields of social and philosophical thought. You see, there is this fear that, without government, all justice and security will disintegrate. I think regulation and state protection do a terrible job with things like special interest pharmaceutical companies. I think if you look at Charles Dickens` novel “Hard Times” and make comparisons with today and the need for more state protection, that`s more of an emotional argument. .