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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

How was Keynes’s position different from the classical position with respect to saving and investment?

To determine

Classical economists and Keynesians with regard to savings and investments.

Explanation

The classical proposition is that both savings and investment are related and adjust similarly in the economy in order to make the match between the investment and savings. This helps to make equilibrium between the two in the economy. This was made possible through the changes in the interest rate of the economy according to the classical economists. This proposition was the classical ideology, whereas the Keynesian position was different...

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