Part one of term paper
In the comparison of the two thoughts one must understand that Classical thought is one that has been around longer than Keynessian and it was in all probability the only real school of thought from 1776 to the 1930's. The Classical thought is one that had its origins in Britain and with British's economists. As early as Adam Smith and un ...

Part two of term paper
... was to occur that it would most certainly be short lived. A working economic example of this would be the Great Depression, experienced in the 1930's. The stock market crash, bank failures and a decade of unemployment averaging 20% to a high of 25% (1933) caused sever problems. This was a crisis not only for the US but the world as well. In keeping with the Classical thought, a government should do nothing and play a non -active and very passive role in the economy, their for the syste ...