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Gemiola
2 months ago
12

Match each economist to his economic belief.

History
1 answer:
marta [1.5K]2 months ago
3 0

Responses:

Adam Smith

  • Competition serves as a regulatory mechanism.

Friedrich von Hayek

  • Limited government intervention provides individuals with greater economic autonomy.

Milton FriedmanThe government should refrain from regulating the money supply.

  • John Maynard Keynes

Intervention from the government is essential for economic stability.

Explanation:

In his pivotal work, The Wealth of Nations published in 1776, Adam Smith challenged governmental control over trade and argued in favor of competition among businesses acting as a self-regulating force.

Friedrich von Hayek's influential 1944 book The Road to Serfdom represented a crucial classical liberal argument in economics, which can be more accurately described today as libertarianism.

Milton Friedman expressed skepticism about the effectiveness of the Federal Reserve's management of the money supply, with his essays compiled in Capitalism and Freedom , published in 1962.

John Maynard Keynes proposed that enhancing government spending and reducing taxes would bolster demand, facilitating economic recovery from depression. His approach was adopted in President Franklin D. Roosevelt's New Deal program, which aimed to lift the United States from the Great Depression.

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1 month ago
List three similarities between antebellum era democrats and gilded age republicans
Artemon [1739]

Three common features of antebellum era Democrats and Gilded Age Democrats include:

i. They sought to secure party allegiance through large public gatherings such as rallies and parades.

ii. They engaged in intense disputes with their opponents over economic matters.

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Additional Details:

Antebellum era and the Gilded Age are distinct time periods within U.S. history. The Gilded Age refers to a phase characterized by rapid industrial growth and increased immigration in the northern and western United States, while the antebellum era refers to the period before the Civil War, marked by national expansion and economic transformation.

Politically, the Democratic Party held power during both eras, maintaining consistent practices and slogans. The spoils system was prevalent in both times, beginning around 1820 and lasting until the Pendleton Act was passed in 1883. Across both periods, battles for political control with their rivals were intense. Lastly, free trade was endorsed by Democrats during both eras.

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Answer Details

Grade: High school

Subject: US History

Chapter: Antebellum era

Keywords: Antebellum era, Gilded Age, United States, economic, evolution, Northern, Western, Democrats, practices, slogans, Pendleton Act, reforms.

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