Question

What failure of classical economics did the great depression highlight?

Answer 1

The answer is Classical economics. It is an expansive term that alludes to the predominant monetary worldview of the eighteenth and nineteenth hundreds of years. Scottish Enlightenment mastermind Adam Smith is generally viewed as the ancestor of traditional hypothesis, albeit prior commitments were made by the Spanish scholastics and French physiocrats. Other imperative supporters of established financial matters incorporate David Ricardo, Thomas Malthus, Anne Robert Jacques Turgot, John Stuart Mill, Jean-Baptiste Say and Eugen Böhm von Bawerk.