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What is the difference in policy that would be used by Keynesian theorists and monetary theorists to achieve long term stability in macroeconomics?
Wiki User
∙ 12y ago
Keynesian theories allow for policy changes to affect progress of the national economy through making changes to the national debt by selling or withdrawing national bonds, by printing or withdrawing money, by changing the amount of tax to be collected and by controlling the amount of reserve money that banks should hold in their vaults. When these changes are made to oppose the progress or decline of the national economy a degree of stability is thought to be provided.
The moneyists would not understand how any of these changes really affect the prrogress nor stability but instead they would claim that by making changes to the prime rate of interest on the national bonds, can a change in the policy be introduced and with it a degree of stability obtained.
It should be noted that neither kind of claim is truly effective!
Wiki User
∙ 12y ago
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