Answer to Question #53159 in Macroeconomics for jim
Some experts believe that the government must stabilize and help the economy in bad times. It should lower taxes and interest rates so that people can borrow money more easily.
Today Keynes’ theory is widely accepted and modern countries combine capitalism with some kind of government control. The state may own industries that are important to the country’s economy, like oil wells, banks or airlines. Most people feel that free market economy should remain but the government should still be around to see that economic rules are kept.
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