Discussion Question:

The following questions deal with Keynesian versus Classical Economics.Watch the following video, read the Appendix to Chapter 24. Then answer the following questions below.

"Fear the Boom and Bust": Keynes vs. Hayek Rap Battle

https://www.youtube.com/watch?v=d0nERTFo-Sk

1. What are the main differences between Keynesian and Classical economic theories?

2. Do you think the Obama administration more closely followed Keynesian or Classical economic theory?Explain.

3. Do you think the Trump administration is more closely following Keynesian or Classical economic theory?Explain.

4. Which economic theory do you think would work best?Explain.