Economic Theories

John Keynes

Adam Smith

Oh geez, I didn't know that they let economists who don't believe the government should help when times are tough in here.

Well at least I don't believe that the government should be interrupting the natural flow of the economy

The government should be involved to take care of economy. The government spending would increase the overall demand which would fight period of high unemployment.

Oh please! That's just an excuse to let the government spend our hard earned money. The government does not need to be involved becuase the free market system balances itself out.

Just ask Alfred Marshall and Irving Fisher. They're smart and they side with me!

Oh yeah? Well just ask Nicholas Kaldor and John R. Hicks cause they are on my side!

The economists could argue forever. The truth is that both theories are used in the modern economy. The government is better suited to fight recession than inflation. Typically, you see more government involvement during recession than inflation. Both theories have their respectable place in the economy

The Petty Economists

Lily Sharp