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One of the main critiques is on say's law, which is that supply creates its own demand. In a nutshell Keynes was able to explain the great depression by saying that demand creates supply. This is extremely simplified.
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Who is the chief of economics?
classical: adam smith david ricardo thomas malthus keynesian: john maynard keynes
Did John Maynard Keynes have a degree in economics?
No. Keynes had a B.A in Mathematics.
In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
Who coined the term micro economics and macro economics?
not sure but i guess" J.M Keynes".
What is the adjustment process in classical economics?
economics
Main difference between classical macro-economics and neo-classical thoughts?
what is diff b/w the classical economist and keynes economist
Who is the chief of economics?
classical: adam smith david ricardo thomas malthus keynesian: john maynard keynes
What has the author G R Steele written?
G. R. Steele has written: 'Keynes and Hayek' 'Monetarism and the demise of Keynesian economics' -- subject(s): Chicago school of economics, Classical school of economics, Keynesian economics, Quantity theory of money
Did John Maynard Keynes have a degree in economics?
No. Keynes had a B.A in Mathematics.
The change from classical economics to modern economics theory in the twentieth century is associated with this man.?
Economist John Maynard Keynes (b. 1883). Keynes' theories on Economics and the relationship of money supply, velocity, fluidity, and value, revolutionized the field of economics. His views, now referred to alternately as 'supply-side,' 'monetary,' or simply 'Keynesian' economic theory, were widely embraced by Western nations, and were largely credited with ending the great depression; the influence of Keynes' ideas persists today.
In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
Who coined the term micro economics and macro economics?
not sure but i guess" J.M Keynes".
What is the adjustment process in classical economics?
economics
Who is the father of economics why he called father of economics from which word economics derived?
John Maynard Keynes"Father of Economics" some says that "Adam Smith" is the real father of economics
Contribution of John Maynard Keynes in economics?
his contribution is... i don't know
What economist is responsible for changing classical thinking in the twentieth century?
keynes
This man is responsible for changing classical thinking in the twentieth century?
keynes
