Question

What philosophy is reflected in the hands-on approach the government has taken towards the economy since the Great Depression?

Answer 1

Answer: Keynesian

Explanation:

John Maynard Keynes differed from his predecessors in economics who believed that the Government should stay away from the economy as it would always correct itself.

Keynes developed Keynesian economics which argued that the government ought to interfere in the economy of the country through fiscal and monetary measures to save it from recession. This is what the government has been doing since the Great depression through the Fed and the IRS primarily.