In: Economics
After listening to the Crash Course video below and reading Chapter 28 on fiscal policy, discuss the pros and cons of the Keynesian versus classical economist approach to fiscal policy. Which approach do you favor? Why? Does your answer depend on the current state of the economy, such as whether or not the economy is in a deep recession or growing at a trend rate? https://www.youtube.com/watch?v=otmgFQHbaDo&list=PL8dPuuaLjXtPNZwz5_o_5uirJ8gQXnhEO&index=8