John Maynard Keynes and Friedrich Hayek
A) had similar views with regard to the cause of the Great Depression and what might be done to prevent it from happening again.
B) both believed that perverse monetary policy was the primary cause of the ups and downs of the business cycle.
C) both believed that budget deficits and surpluses could be used to smooth the ups and downs of the business cycle.
D) had polar opposite views with regard to the underlying causes of economic booms and bust, but nonetheless their scholarly work commanded widespread respect among economists.

Question

Quizplus · Accepted Answer

Keynes and Hayek had fundamentally different views on economic policy, with Keynes advocating for government intervention and Hayek promoting free-market principles. Despite their differences, both were highly respected economists.