PPT-Economic Idealism Exploring Thatcherism, Reaganomics, Monetarism, and Keynesian Economics

Thatcherism At its most crude Thatcherism represents a belief in free markets and a small state Rather than planning and regulating business and peoples lives governments job is to get out of the way. DEE 2011. London: September 2011. Dr Wayne . Geerling. , School of Economics & Finance, La Trobe University. “Most students who take introductory economics seem to leave the course without really having learned even the most important basic economic principles” (Frank, 2006). Neoclassical . Economics. Steve Keen. Kingston University London. IDEAeconomics. Minsky Open Source System Dynamics. www.debtdeflation.com/blogs. What is Heterodox Economics?. According to . Diane . Coyle. Steve Keen. Kingston University London. IDEAeconomics. Minsky Open Source System Dynamics. www.debtdeflation.com/blogs. What is Post Keynesian Economics?. According to . Diane . Coyle. , one of the authors of the . Summer session I. Appendix . ch. 24 + other sources. Macroeconomic Schools of Thought . Philosophical Debates in Economics. Consider a riddle:. “A man and his son are driving to a championship football game. It is late December and the roads are covered with snow. They hit a patch of ice and crash into a telephone pole. An ambulance rushes the son to a nearby hospital and operating room. The doctor walks in and says, “I can’t operate, that’s my son.” How could this be true?”. Economic Reality. The Economic Myth . Economic choices involve only money.. Economic Reality. Economics focuses on choices, the choices that we make every day. Both as individuals and as a society.. Economics. Introduction Post Keynesian Economics and Political Economy, Kingston . 2015. Engelbert. . Stockhammer. Kingston University. Outline. Foundations. Fundamental uncertainty. Social conflict. Effective demand. LO: to understand some objections to idealism and evaluate their success.. The Master Argument. Try to conceive of a tree which exists outside of any mind – a tree which no one has any awareness of. . and the . Historical . Development of Macroeconomics. The Historical Evolution . of Macroeconomics. The Great Depression . and . Macroeconomics. The Great Depression exerted a huge impact . on macroeconomics. Engelbert. Stockhammer. Kingston University. Outline. Foundations. Fundamental uncertainty. Social conflict. Effective demand. Macroeconomics. Investment . →. savings. Involuntary unemployment. Credit . Objectives. To understand the concept ceteris paribus. To understand the difference between positive and normative statements. ‘. Free school meals for children at infant school will reduce the cost burden in the future for the NHS’. . Theme 2. Economics. Economics: the study of how people . choose. to use resources.. It is the study of choices. .. What are your resources? . Economics is not a science.. It is a set of theories, but none, has scientific validity.. a. “Aside from Religion, economics is perhaps the most . pervasive yet least understood force in American life.”. Jon Meacham – Editor, Newsweek Magazine. September 24, 2007. After studying this chapter, you will be able to:. ELECTING RONALD REAGAN…TWICE. Ronald Reagan for Reagan/Bush '84. . http://www.youtube.com/watch?v=SDMksN-ZTR4&feature=related. . Ronald Reagan TV Ad: "Reaganomics". . http://www.youtube.com/watch`?v=GhgiOSgBEYY. Professor Carol Newman. Head of Department of Economics. What prompted the start of this sustained increase in living standards?. Why did it happen in some countries at certain times and not at all in others?.