Assignment:
KEYNES VS. HAYEK
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Watch video and answer questions below:
Video Link
1. Compare and contrast Keynes' and Hayek's philosophies.
2. How would you deal with our country's current economic problems? Would you use any ideas from Keynes and/or Hayek? Why or why not? Which?
3. How did the economy thrive after World War II without government stimulus? Is a stimulus ever needed? If so, in what situations?
4. Can war be "good"? Why do some people suggest that war can help the economy? Do you agree? Why or why not?
5. Research the "Broken Window Fallacy" or describe what you already know about it. Explain why it does or does not apply to this issue.
6. Can we spend our way to prosperity? Why or why not?