John Maynard Keynes And Milton Friedman Essay

John Maynard Keynes And Milton Friedman Essay

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In a world where we are all hoping for instant gratification and constantly striving for more, it is necessary that there is something keeping us all from going absolutely insane. That is economics. From Smithians to Keynesians to Monetarists, we all have different opinions on government and the economy and how they go together, but we all can agree that no economist could ignore the interplay between the two. In New Ideas From Dead Economists, Todd G. Buchholz describes how various economists and their thoughts relate to today’s world and how these ideas originally came about. Using clear and precise explanations and opportune examples, Buchholz dives deeply into understanding economists and their thoughts. While there is no denying that Adam Smith left a never-ending sweeping impact on economics by defining perfectly how the world desires for better, the “dead economists” that left the most influential ideas in my opinion were John Maynard Keynes and Milton Friedman, as they created an ongoing economic debate still present today.
Influencing economics greatly, charming John Maynard Keynes found his place at the University of Cambridge after being raised in a Puritanical Victorian home following his birth in 1883. Keynes felt comfortable among his high intellectual parents and surroundings, but he liked to have fun and did not care greatly for the Puritan attitudes they attempted to embody in him. Coming to Cambridge to study mathematics, Keynes struggled in this subject and soon found himself instead reading economics books, where he learned much of his basis for economics from Alfred Marshall’s Principles of Economics. Eventually returning to Cambridge later in his career as an economics teacher, Keynes started to form his own...

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...uggle to attain full employment and we certainly would not have the advances they provided to economics today. The Keynesian-Monetarist debate continues on, and the dead economists John Maynard Keynes and Milton Friedman remain influential figures today. Todd G. Buchholz explains various economists’ ideas in a way that is understandable for all, providing easy-to-follow explanations and even some entertainment. While New Ideas From Dead Economists can be tough to read through at times for those who do not enjoy history and do not find economics the most interesting topic in the world, it contains life lessons and information that all should know. For those who want to have a greater awareness of the world around them and understand where it all comes from, I would definitely recommend diving into the world of the dead economists. You just might learn some new ideas!

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John Maynard Keynes And Milton Friedman Essays

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