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Thursday, October 22, 2015
Question about solutions to unemployment/inflation
Now, as far as I understand it, one of the main criticisms of Keynesian/classical economics is that of only looking at one side of the equation, whether it be the short run in a Keynesian perspective or the long run in a classical perspective. That classicals ignore the problems of today, while Keynesians don't plan for the future. So what is the Austrian solution to this? If we are in a downward sloping economy, what would be the solution to cut down on unemployment or in an upward sloping economy to avoid inflation?