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The great depression marks a great divide in Americas way of dealing with economics The economical war between professional economists today is a never-ending battle On one side there are those who believe in a classical idea that was born before the 1930s Then the great depression influenced another army of economists that followed the ideas of a man named John Meynard Keynes The reason this war is never ending is because it doesnt matter how hard an expert fights one side there is another fighting on the other side There have been endless debates as well as hundreds of thousands of pages written on both subjects The point of this paper is to simply show some of the arguments for the Keynesian side of the argument The classical Economists are those that believe in the ideas that spawned before the great depression The Keynesian Economist believes in more of the ideas that were developed during and after the great depression Some things Classical economists believe in are Says Law steady employment and self-adjusting markets Demand driven economies aggregate demand short run monopolies and government-influenced economies are things the Keynesians believe in The first major difference between the Classics and Keynesians is they believe that economies are driven by two separate ideas The Classics believe Says law which is supply creates demand In a perfect world or in trading this is true One good cannot be sold without the trade of another Therefore the more being supplied the more is being traded or demanded The Classical Economist never bothered to look at the demand side of things For example in a trading world one fish is traded for one piece of firewood or one piece of clothing The economy is in equilibrium and supply drives demand However as soon as it gets thrown off that equilibrium supply no longer controls the economy instead it is demand If a blizzard comes firewood and clothing will
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