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Adam Smith and John Maynard Keynes are two of the most influential economists in the history of the field. Give an example of a short essay comparing Smith's and Keynes's fundamental economic theories. Your essay should address the following:
Question a. Which of the basic economic systems did each economist believe in? Briefly explain why each thought his own was the best choice.
Question b. How do Smith's and Keynes's ideas on the role of government in the economy compare?
Question c. Which economist's theories would be more successful in addressing a major global economic downturn like the Great Depression? Be sure to support your answer with analysis and supporting details.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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