Assignment 2: Exploring Business Economics
By Saturday, August 17, 2013, respond to the discussion assignment by submitting a 250-300-word response to the Discussion Area. Start reviewing and responding to your classmates as early in the week as possible. You should review and substantively respond to the work of at least two other students.
Using the South University Online Library and the Internet, conduct some research about John Maynard Keynes and Friedrich A. Hayek. In your own words, briefly describe their economic theories as they relate to government involvement in the economy.
Now, watch this video, http://www.youtube.com/watch?v=dOnERTFo-Sk, and respond to the following:
Describe the key points of the video. Do you think the video accurately portrays the two theories? Why, or why not. Whose theory does the current US economy most closely resemble? Explain. Which theory do you support and why?
Comment on the postings of your classmates. Do you agree with their positions? Why, or why not.
Why, or why not.