John Maynard Keynes

Two of the main theories of economic thought are classical and Keynesian, this reading will look at the differences.

While reading, consider the following questions:

1. What are the differences between the two theories?
2. Which do you think is best adapted to the current economy?

• Read Chapter 7: Classical – Keynesian Controversy from John Petroff’s “Macroeconomics” text book, which provides definition and insights into the key terms and theories linked to these two schools of economic thought.

Having read this chapter, jot down any of your reflections, thoughts or questions on this subject in a WeNotes post.