Pragmatism-keynesian theory

Reference no: EM13795562

Pragmatism

Anderson (1988) argued "Pragmatism, properly understood, is neither a technique of neutral problem solving nor the mere contrivance of compromise". Explain how entrepreneurial policy makers can incorporate pragmatism practices into their public policy research. Have pragmatism practices changed in the last twenty years? Respond to at least two of your fellow students' posts.

Keynesian Theory

Keynesian economists would suggest that, during a recession, the government should use stimulus efforts to help support the economy during that recession. Later, after the recession, Keynesian theory would suggest reducing government spending during a productive economy. Austerity measures, during a recession, operate on the opposite perspective from Keynesian theory in that Austerity promotes the reduction of government spending, and government deficits, in economic downturns. Read the article "Austerity leads to austerity!" and watch the video, "Risk on, austerity wins in Greece". Explain which perspective, Keynesian or Austerity, is better policy for government during a recession.

Reference no: EM13795562

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