Which economist most likely would have agreed with the US government's intervention during an economic crisis in 2008? Friedrich von Hayek Adam Smith John Maynard Keynes Milton Friedman

Question

History

Daniel Hanson

27 August, 22:09

Which economist most likely would have agreed with the US government's intervention during an economic crisis in 2008? Friedrich von Hayek Adam Smith John Maynard Keynes Milton Friedman

+3

Answers (2)

Know the Answer?

Dominique Rocha · Answer 1

Answer: John Maynard Keynes

Explanation: EDG 2020

Virginia Haas · Answer 2

The economist that most likely would have agreed with the US government's intervention during an economic crisis in 2008 would be John Maynard Keynes.

Explanation:

John Maynard Keynes was a British economist and philosopher. He is best known for his economic contributions. Among other things, he argued for an active fiscal and stabilization policy. This was perceived in the 1930s as an intellectual counterpart to the classic macroeconomic theory. Keynesianism, in particular, diverged into the so-called Austrian and Neo-Austrian school, represented by Friedrich August von Hayek and others, and later Milton Friedman's Monetary School of Chicago. With his economic interventionism, Keynes was neither a socialist nor a classical liberal, but a social liberal.

According to Keynes, the state should use funds as a tool to mitigate the adverse effects of severe economic downturns, recessions and upturns. In addition, the state had to make investments to achieve the goal of full employment.