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Marx and Keynesians approach apply the concept of economic crisis in ….............. waysa.distinct and oppositeb.directc.indirectd.interlinked

Question

Marx and Keynesians approach apply the concept of economic crisis in ….............. ways

a. distinct and opposite
b. direct
c. indirect
d. interlinked

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Solution

The correct answer is a. distinct and opposite.

Marx and Keynesians have different views on the concept of economic crisis. Marx's approach is based on the idea that economic crises are inherent in capitalism and are caused by contradictions within the capitalist system, such as the tendency for the rate of profit to fall.

On the other hand, Keynesians believe that economic crises are not inevitable and can be prevented or mitigated through government intervention in the economy. They argue that government policies can be used to manage demand and stabilize the economy, preventing the boom and bust cycles that Marxists see as inherent in capitalism.

So, while both Marx and Keynesians are concerned with understanding and addressing economic crises, they approach this issue in distinct and opposite ways.

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