The subtitle of the Commanding Heights series is “The Battle for the World Economy”. This episode is titled “The Battle of Ideas” and begins with the introduction of the two most important economists in the 20th century, John Maynard Keynes and Friedrich von Hayek. Keynes and Hayeks ideas were oppositional to each other, yet in the end, both men would have a profound impact in the world economy of the 20th century. Write a short essay of 1-2 paragraphs identifying the basic ideas of both men and explaining why Keynes dominated the early post WWII era and Hayek that late post WWII era. I need to write a short essay around 3 paragraphs
The subtitle of the Commanding Heights series is “The Battle for the World Economy”. This episode is titled “The Battle of Ideas” and begins with the introduction of the two most important economists in the 20th century, John Maynard Keynes and Friedrich von Hayek. Keynes and Hayeks ideas were oppositional to each other, yet in the end, both men would have a profound impact in the world economy of the 20th century. Write a short essay of 1-2 paragraphs identifying the basic ideas of both men and explaining why Keynes dominated the early post WWII era and Hayek that late post WWII era.
I need to write a short essay around 3 paragraphs
A school of economic thought is a group of economic philosophers who have had a common perspective on how economies work throughout history. While economists do not necessarily fit into certain schools of thinking, particularly in recent years, classifying economists into schools of thought is widespread practise. Nowadays, the vast majority of economists adhere to what is known as mainstream economics (also known as orthodox economics). Economists frequently specialise in either macroeconomics (the study of the overall economy) or microeconomics (the study of individual markets or actors).
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