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Keynesian Economy Essays

Keynesian and Classical Economy

Introduction Classical model emerged as an opposition to Mercantilism. Two beliefs defined mercantilism; Bullionism held that a nation’s wealth is defined by its stock of precious metals and that the government should intervene in the economy. Adam smith inspired the classical model. Classical economists consider full employment usual. There is no overproduction or unemployment in ... Read More
Pages: 4       Words: 893
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