Category: Economic Schools of Thought

“The Invisible Hand of the Market.” Lizza Littlewort

Economic Schools of Thought / Macroeconomics

April 18, 2018

Classical Economics: Praising the free market

“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else,...

Economic Schools of Thought

February 13, 2018

Keynesian School of Economic Thought

The outline of our theory can be expressed as follows: When employment increases aggregate real income is increased. The psychology of the community is such that when aggregate real income is increased aggregate consumption is increased, but not by so much as income. Hence employers would make a loss if...