(Neo)-Keynesian and (Neo)-Classical economists have debated for more than a century on whether or not the...

(Neo)-Keynesian and (Neo)-Classical economists have debated for more than a century on whether or not the invisible hand of the market can allocate scarce resources efficiently and equitably without the aid of government intervention. One important dimension of this debate is the extent to which prices are rigid in the short term.

Discuss the following prompts:

1. Based on your professional experience, comment on how and why the Classical and the Keynesian views of the macroeconomy are useful paradigms to frame a business environment in which internet and the information technology revolution play a progressively more important role.

2. Consider, in particular, the implications of pricing for websites such as Amazon.com, eBay, and service companies like Uber.

3. Provide arguments supporting your position, including evidence related to your professional experience.

Expert Solution

Rahul Sunny answered 1 year ago

(Neo)-Keynesian and (Neo)-Classical economists have debated for more than a century on whether or not the...

(Neo)-Keynesian and (Neo)-Classical economists have debated for more than a century on whether or not the invisible hand of the market can allocate scarce resources efficiently and equitably without the aid of government intervention. One important dimension of this debate is the extent to which prices are rigid in the short term. Discuss one or more of the following prompts: Based on your professional experience, comment on how and why the Classical and the Keynesian views of the macroeconomy are...

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(Neo)-Keynesian and (Neo)-Classical economists have debated for more than a century on whether or not the...

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