Question

If the economy were run with a strictly keynesian point of view, what would the government's role be in regards to the u. s. economy?

Answer 1

The government is responsible for managing the economy. If the economy were run with a strictly Keynesian point of view.

The theory of John Maynard Keynes, known as Keynesian economics, revolves around the idea that governments must play an active role in their countries' economies, rather than simply allowing them to be governed by free markets. increase. Keynes in particular advocated federal spending to mitigate cyclical downturns.

Government (1) provides the legal and social framework within which the economy functions, (2) maintains competition in markets, (3) provides public goods and services, (4) redistributes income. , (5) compensates for externalities, and (6) take certain steps to stabilize the economy.

Keynesian economists justify government intervention through a public policy aimed at achieving full employment and price stability.

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