According to this podcast, the Obama administration believes that Keynesianism is the go-to-solution for our current recession. Explain. What problems do the anti-Keynesians see to this solution?
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Access the following Podcast from NPR
“Obama Gives Keynes His First Real-World Test”
by Adam Davidson and Alex Blumberg”
http://www.npr.org/templates/story/story.php?storyId=100018973 (Links to an external site.) (If this website is unavailable, refer to the text/lecture material on Keynes.)
1. According to this podcast, the Obama administration believes that Keynesianism is the go-to-solution for our current recession. Explain. What problems do the anti-Keynesians see to this solution?
Chapter 24
2. Contrast Milton Friedman’s money supply rule with Abba Lerner’s functional finance.
3. What problems do changes in velocity create for those advocating a money-supply rule?
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