Question: the classical school (including its later development such as monetarism, Austrian economics, supply-side economics, new classical economics) and the Keynesian school (including its later development,

the classical school (including its later development such as monetarism, Austrian economics, supply-side economics, new classical economics) and the Keynesian school (including its later development, new Keynesian economics)

Compare and contrast classical economics and Keynesian economics. What are the major differences between them?

Which model would you prefer? You may already prefer one because you are defending your school. Thoroughly explain your reasoning.

As a classical economist or a Keynesian economist, what would you do for the current U.S. economy?

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