Chapter 16 Web Activities
1. Economist Russ Roberts and filmmaker John Papola have created a video of a rap-off between economists John Maynard Keynes and F.A. Hayek. View the video at http://www.econstories.tv/. Read the lyrics on the same page, and then read the line-by-line discussion of the lyrics at the Daily Kos website, accessible at http://www.dailykos.com/story/2010/3/1/8929/21462.
a. Summarize the basic arguments of Keynes.
Keyne's viewpoint on macroeconomic theory is government intervention is the solution, and not the problem, and that it is possible to prevent the massive swings in the economy that are currently the norm with massive swings back and forth from boom and bust rather than staying within a happy medium between the two. Any Keynesian would point to the Great Depression and how the absence of government intervention caused the Great Depression and that a lack of perfection in administering the economy since was the main causes of the late 70's/early 80's recession and the "Great Recession From 2007 to 2009. Keynes believed that the government could be used to steer markets and cause growth.
b. Summarize the basic arguments of Hayek.
Hayek was a supply-side guy in this argument. Rather than be a proponent of government intervention, he said markets should control and police themselves more often than not rather than the government getting involved unnecessarily and thus making things worse. In addition, Hayek argued that government getting involved with steering and moving markets just makes things worse and that the government...
Nearing the end of the 1960s, the analytic or language philosophy became the central focus point which led to the isolation of the classroom setting and the problems that came with it (Greene, 2000). Most of the educational philosophers of the time were inclined towards restricting themselves to the official aspects and problems like the sovereignty of the system without any influence from the society and the surrounding environment and
" The analysis cited above continues to describe the ways in which corporate "life" (in the sense of how many different individuals and entities are vital to the running of a corporation in the current climate): Businesses today must be consumer, profit, and publicly oriented. Only a few years ago, the first two would have sufficed. But, in support of our dualistic argument regarding the marketing concept, that is -- creating exchanges
The notable exception to this layout of the various departments of the casino at The Venetian is again its Sports-Book, which is entirely rounded into a half-circle and therefore gives an air of having consumed far more resources than a rectangular shaped Sports-Book would. It is easy to craft a desk that is straight, to cut the wood in a way that makes it have strong borders and edges; for
1. Introduction Firms may be successful by satisfying customer needs, but their ultimate accountability for financial performance is to the owners of the firm. Actions undertaken by quoted firm will usually have the direct, or indirect, aim of generating revenues and profits for the firm, and therefore the owners (Tarraf, 2012). When investors assess a potential investment they will look at the financial performance of a firm, assessing the past performance,
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