Step I: Remember when we learned about the role of Government in a free enterprise market system, & the role of government in a centrally planned economy. With a centrally planned system there is little controversay regarding the government. The Government rules or commands over the entire economy. In a market based economy the role of government is much more problematic. The role of government in a market economy has been debated for many years. Strong believers in market economy believe in laissez fare.
Consider the following statement: Adam Smith believed in a completely laissez fare system & believed that it was not the responsibility of the free market system to worry about a safety net to take care of the unfortunate poor people. In other words Adam Smith hated the poor & only respected the well to do.
Use a Support/Refute Oranizer to list & organize statements from the readings.
Let us not forget tht we read about Adam Smith early on & looked carefully at his ideas about the invisible hand & seeking self-interest not to mention Laissez Fare
ReplyDeleteObjective: Read complex excerpts from Adam Smith & John Maynard Keynes & write a summary of the similarities & differences between these two great economic thinkers. Students will develop a thesis & provide detailed evidence in support of their theme & arguments.
ReplyDeleteStudents will fill first need to employ an understanding of key acaademic vocatulary
Along with prmary resources students will also look at secondary resources.
ReplyDeleteHere's a good link that will highlight some of the key differences between Keynes & Smith. Key Question: How did the two thinkers differ on human behavior & how individual behavior would impact the economy
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