Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This was produced following the end of the 2008 Great Recession. The theorists that provide the foundation for policy in this century and most of

This was produced following the end of the 2008 "Great Recession".

The theorists that provide the foundation for policy in this century and most of the last are John Maynard Keynes and Friedrich Hayek. Keynes became famous for supporting government intervention when the economy had been damaged severely by either poor macroeconomic policy or exogenous factors (the corona virus is an example of one such factor.) Hayek on the other hand suggested that for the government to involve itself in the management of the macroeconomy would in itself defeat the return to a healthy economy. The second video that I am providing here in the discussion area is found by many students to be fun and informative. If you watch the video, remember that each point, each person and each consideration represent real people, Timothy Geithner, Ben Bernanke, Hank Paulson, etc. The videos were done just after the end of the "Great Recession"; I think we were all here for the "Great" recession. That time was eerily similar to what it going on now pertaining to the FED's and Congress' response to the corona virus pandemic which in many ways is more severe than the previous recession. I provide the first video of this two part series last week (if you did not see it and would like to circle back). This one "Round 2: Fight of the Century" is captivating and surprisingly informative. Here now is "Round 2: Fight of the Century". * Notice the mustaches.

what is the take on this video?

link: https://www.youtube.com/watch?v=GTQnarzmTOc

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Historical Perspectives On The American Economy Selected Readings

Authors: Robert Whaples, Dianne C Betts

1st Edition

0521466482, 9780521466486

More Books

Students also viewed these Economics questions

Question

Discuss one of the four main economic questions.

Answered: 1 week ago