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Question
Write any five differences between classism and Keynesianism.
Distinguish Between
Solution
|
S.No |
Keynesianism |
Classicism |
| 1. | Short-run equilibrium | Long-run equilibrium |
| 2. | Saving is a vice | Saving is a social virtue |
| 3. | State intervention is advocated | Laissez-faire policy |
| 4. | Rate of interest is a flow | Rate of interest is a stock |
| 5. | Demand creates its own supply | Supply creates its own demand |
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Comparison of Classicism and Keynesianism
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