adam smith vs. john maynard keynes

Economics was a subject of which few thought about consciously until the eighteenth century. It is true that since the beginning of time people have used economics, but it was seldom given any thought. When a caveman traded a buffalo for a new club he did not have the knowledge that he affected the entire caveman economy and their way of life. Adam Smith is accredited as being the most influential economist of the eighteenth …showed first 75 words of 1265 total…

…showed last 75 words of 1265 total…the rest of the world as well since the Untied States is an economic super power. The chairman of the FED, Alan Greenspan is said by many, to be the most powerful man in the world. Keyensian economics is much more precise than Smith’s classic economics. The nation’s economy is much too important to be left up to the invisible hand. Policies are required to make sure that the country continues to prosper.