Please note that while you learn in Crisis Economics about various ways of responding to financial crises and their effects, this paper is not a review of this book or analysis of the concepts discussed in it. Instead, using one or two themes addressed in the book, you are expected to provide a comparative study of the American government's responses to two crises, the one triggered by the Wall Street collapse in 2008, and the economic crisis caused by the COVID-19 pandemic in 2020-2021.

Please answer the following:

Compare and contrast the US government responses to the economic crises of 2008-09 and 2020-21. In the case of the former crisis, first the Bush, and subsequently the Obama administrations issued massive bailout packages for Wall Street firms. In the second case, first President Trump, and then President Biden authorized massive stimulus packages for the American people. Which of these measures responded more directly to structural deficiencies of capitalism, and why? Which of the following schools of economic thinking, Keynesian, Austrian, and Marxist, best explain the American government's responses to these crises, and why?