How did the economic philosophy of John Maynard Keynes differ from classical economists?

1 answer:

5 0

John Maynard Keynes' economic philosophy differs from that of classical economists in that Keynes believed that governments should only control monetary policy, whereas classicists believed in wage and price control.

<h3>Who was John Maynard Keynes?</h3>

John Maynard Keynes was an English economist whose ideas essentially altered macroeconomic theory and activity, as well as government economic policies.

The economic philosophy of John Maynard Keynes disagrees from that of classical economists in that Keynes accepted that governments should only control monetary policy, whereas classical economists considered in wage and price control.

Therefore, option A is correct.

Learn more about the classical economists, refer to:

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<h3>Breaking News</h3>

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