What was keynes message in this statement

Assignment Help Business Economics
Reference no: EM131554004

Classical economists envisioned that the economy would take care of itself, thus the term "Laissez Faire." John Maynard Keynes said in response to a question, "Have you ever seen anything like this [Great Depression] before in history?" Keynes replied, "Yes, it was called the Dark Ages and it lasted 400 years."

What was Keynes' message in this statement?

Reference no: EM131554004

Questions Cloud

American recovery-reinvestment act : In response to the Great Recession of 2008, Congress and the President passed the American Recovery & Reinvestment Act of 2009.
Speed of depreciation and the profitability of investment : What do you conclude about the speed of depreciation and the profitability of an investment?
Explain the terms staffing level and staffing mix : BSBSMB407 Manage a Small Team Assessment Tasks. Describe employment arrangements you are likely to use to give your business flexibility with regard to staffing
What specific cellular process do you think was affected : What specific cellular process do you think was affected by the medication? Explain at the cellular level how it affects cellular respiration.
What was keynes message in this statement : Classical economists envisioned that the economy would take care of itself, thus the term "Laissez Faire." John Maynard Keynes said in response to a question
List the three main types of skeletons found in animals : BIOL110 - List the three main types of skeletons found in animals and briefly explain their major advantages or disadvantages
Find a probability of a random chosen light bulb : The better light bulb has an average life of 600 hours with a standard deviation of 40 hours. The length of the bulb can be closely approximated.
What is the company market capitalization : What is the company's market capitalization?
What is the arrival rate of customers into jiffy lube : Arrivals at a Jiffy Lube follow a Poisson process with rate 10/hour. Service time is exponentially distributed with mean 15 minutes per customer.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd