Different economic philosophies between the two dominant schools of economic thought

Nikoloski, Krume (2014) Different economic philosophies between the two dominant schools of economic thought. In: Knowledge: International Journal Scientific and applicative papers V- 7 Skopje, 27-29 Nov 2014, Bansko, Bulgaria.

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Abstract

Always, in economic life will be actual different economic philosophies between the two dominant schools of economic thought. According to classical economics government has minimal role in the economy, and the macro-economy is self-adjusting; meaning consumers and businesses will correct any problems with the economy automatically over time. Classical theory focuses on long-term goals. And according to Keynesian economics government has a large role in the economy, and focuses on short-term goals. Used mostly in times of recession, government spending is a good way to put money back into the GDP and in turn increase unemployment.

Item Type: Conference or Workshop Item (Paper)
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Krume Nikoloski
Date Deposited: 02 Dec 2014 12:58
Last Modified: 02 Dec 2014 12:58
URI: http://eprints.ugd.edu.mk/id/eprint/11573

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