The major economic ideas of Smith, Marks, Hayek and Keynes discussed in the course readings (Sackrey) are still very influential in public discourse about economic
issues today. The public and policymakers still argue about rational actors, self-regulating free markets, laissez-faire, the role of government and the need for
government regulation of the market. Use the following question to make an argument about how the economic ideologies are still influencing public debate about
economic policy at home and abroad.
How are different economic ideologies influencing domestic and international debates about how best to recover from the 2008 economic recession? What caused the
recession and how should we fix it? What roles should markets and governments be playing in the recovery?
Possible resource: http://nyti.ms/1rgDH44
Briefly discuss what you think is at stake in these debates. Who stands to gain if the liberal economic logic characteristic of Hayek prevails? Who stands to gain if
the macroeconomic logic characteristic of Keynes prevails?
Directions:
Use concepts from the assigned readings (Sackrey) to respond to the prompt. We are asking you to make your own coherent and well supported argument about the topic.
Cite specific concepts, short quotes and examples from the readings as evidence to support your own argument.
Remember that citations are required for both paraphrasing and direct quotes from the text. First of all, use some concepts from the text (Sackrey). After you are
enough using the concept of text, if you want to cite other books and articles as needed, you may use it. Include a full list of works cited at the back.
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