Keynes Did Not Agree with the Way the Classical Economists

question 89

Essay

Keynes did not agree with the way the Classical economists described the workings of the economy.What was the essence of his thinking?

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Definitions:

Agent

An individual or entity authorized to act on behalf of another person or entity, known as the principal, in transactions, negotiations, or other legal matters.

Joint And Several Liability

A legal term indicating that each party involved is individually responsible for the entire debt or obligation, as well as collectively with the other parties.

Agent's Torts

Refers to wrongs committed by an agent acting on behalf of a principal that can lead to liability for the agent and potentially the principal.

Principal

The main party to a transaction or contract, often distinguished from an agent who acts on behalf of a principal.