Modern Liberalism
privatization free-market deregulation (neo-conservatism)
regulation, oversight, intervention
unequal distribution of wealth and income
no circulation of money
new deal
relief of immediate unemployment problems
second new deal
Keynesian economics
bear market → recession (long term: depression)
bull market → prosperity
lower taxes
government spend money (private sector stops bc nervous)
get to recovery sooner and avoid pain suffering
deficit financing
borrow money
top of economic boom is gone if bust is gone
demand side management
modern liberal term
supply-side economics (adam smith)
classical liberalism term
suppliers regulate economy by decide how much/when to produce