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Should the government use monetary and fiscal policy to stabilize the economy, or should it adhere to policy rules and refrain from upsetting the economy?

Should the government use monetary and fiscal policy to stabilize the economy, or should it adhere to policy rules and refrain from upsetting the economy?(Compare and contrast the view of Keynesian economics to Monetarist economists.)

What would the Classical Economist have thought about the Fed's handling of the financial crisis?

(Compare the Classicals' view to Monetarist's view of the Fed's handling of the financial crisis.)

Resources

What Is Keynesian Economics?

https://www.imf.org/external/pubs/ft/fandd/2014/09/basics.htm

What Is Monetarism?

https://www.imf.org/external/pubs/ft/fandd/2014/03/basics.htm

Averting Financial Crises: Advice from Classical Economists Thomas M. Humphrey

https://www.richmondfed.org/publications/research/econ_focus/2014/q4/federal_reserve

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