summary paper - in He was very controversial challenging...

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Juliet Martin GEB 1441 February 3, 2009 Dr. Richard Wilson This paper covers three economical views in this society. John Keynes, Adolph Burke, and Milton Friedman shared somewhat similar views on the various economic systems. Firstly, John Keynes spoke of the General Theory. He believed that the classical theory of economics did not actually apply to the current situations going on around us. He argued that postulates or truths about the classical theory are only applicable to special cases and not to general situations. And, his problem was that we may lead people to disaster by viewing these economical problems with a classical view which did not show in the economic society we live
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Unformatted text preview: in. He was very controversial, challenging the old system to make a change. Secondly, Adolph Berle wrote on the American Political-Economic System. His view on the rules of the system was in tuned with Keynes. He, too, felt like the current political-economic thinking, classical, was very limited when dealing with the relevance of today’s processes. Thirdly, Milton Friedman spoke on how the government was bias in which their expenditures should rise in order to keep total expenditures stable. However, they usually consider private expenditures separate causing it to be unbalanced and making it easier for a recession to take place....
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