Write any five differences between classism and Keynesianism?

1.	Write any five differences between classism and Keynesianism?
Answer» Comparison of Classicism and Keynesianism Keynesianism: 1. Short – run equilibrium Saving is a vice 2. The function of money is a medium of exchange on the one side and a store of value on the other side. 3. Macro approach to national problems 4. State intervention is advocated Classicism: 1. Long – run equilibrium 2. Saving is a social virtue 3. The function of money is to act as a medium of exchange. 4. Micro foundation to macro problems 5. Champions of Laissez – fair policy

Answer»

Comparison of Classicism and Keynesianism Keynesianism:

1. Short – run equilibrium Saving is a vice

2. The function of money is a medium of exchange on the one side and a store of value on the other side.

3. Macro approach to national problems

4. State intervention is advocated

Classicism:

1. Long – run equilibrium

2. Saving is a social virtue

3. The function of money is to act as a medium of exchange.

4. Micro foundation to macro problems

5. Champions of Laissez – fair policy

Discussion