What did orthodox economists believe in the 1930s?

Question

Quizplus · Accepted Answer

In the 1930s, orthodox economists believed that balanced budgets were the key to economic growth. They were opposed to government intervention in the economy and favored limited government spending to keep deficits low. This perspective was also influenced by the ideas of classical economists such as Adam Smith and David Ricardo, who emphasized the role of the market in determining prices and allocating resources.

What Did Orthodox Economists Believe in the 1930s