There are two major economic theories - Classical and Keynesian. Classical theory is closely aligned with what is popularly known as capitalism, while Keynesian theory forms much of the foundation for socialism.

1) Obviously, both supply (production) and demand (money or purchasing power) are necessary in a functioning market. However, there is disagreement regarding which one "comes first." Do you believe supply or demand "fuels" the economy and WHY? Why is the other theory incorrect in your view? BE SPECIFIC HERE

2) Please discuss the differences between the two major economic philosophies, Socialism and Capitalism. Be sure to mention:

a) the differences in their ultimate goals

b) the differences in their means of attaining those goals, i.e., their fiscal policies (tax rates and government spending)

3) Collectivism is the idea that the most important thing about a person is their group identity, such as their income, race, gender, sexuality, etc. Cultural Marxists suggest that some identity groups are oppressed and that others are oppressors. Many modern-day socialists can be described as collectivists and cultural Marxists. See the online book Popular Economyths for more details. Please explain how many socialists currently advocate for socialist policies based upon collectivist and cultural Marxist ideas. What are some of the good and/or bad consequences of trying to base economic policies upon such ideas?