Thursday, May 24, 2012

The Keynes Approach to Economics

http://www.google.com/imgres?um=1&hl=en&sa=N&biw=1366&bih=622&tbm=isch&tbnid=RaAqn843X7n_sM:&imgrefurl=http://leftycartoons.com/category/economics/page/2/&docid=YoflnLW0uNGLfM&imgurl=http://www.leftycartoons.com/wp-content/uploads/keynes.png&w=650&h=632&ei=nuu-T-WGMOKK6QHO6ty-Cg&zoom=1&iact=hc&vpx=413&vpy=69&dur=2540&hovh=221&hovw=228&tx=145&ty=155&sig=112977297125447972870&page=1&tbnh=118&tbnw=121&start=0&ndsp=21&ved=1t:429,r:2,s:0,i:105

This political cartoon here argues the Keynes theory of economics and how it's taken for granted during this time period. The Keynesian approach to economics involves the government regulating the economy, whereas it's counter-approach, supply side economics suggests that there should be little government involvment in the economy. This cartoon explains that America doesn't always agree with Keynes theory and that it's 'old school' but in times of a recession or a poor economy the country looks to the government for help and Keynesian economics comes in handy. As soon as the economy has regained it's strength however the cartoon suggests that America goes back to arguing why that approach doesn't work.

No comments:

Post a Comment