During the Great Depression of the 1930s, existing economic theory was unable either to explain ... Both Keynesians and monetarists came under scrutiny with the rise of the new classical school during ...

Governments can also reduce unemployment by hiring new government workers or contractors. Keynesian and Austrian economists have vastly different takes on a wide range of economic topics.

The book introduced a new way of thinking ... operated on the classical economics model, in which markets operated freely, and there was minimal government interference. Keynesian economic theory ...