Compare and contrast classical economics and Keynesian economics. What are the major diffe

Compare and contrast classical economics and Keynesian economics. What are the major differences between them  Week 3 Discussion 1  My group is Keynesian.  Compare and contrast classical economics and Keynesian economics. What are the major differences between them?  There are multiple differences between the classical traditions and the Keynesian.  The major difference is Keynesian believes the government should pay an active role in regulating the economy, whereas the classical tradition believes the economy should be left alone and allow to regulate itself.  Keynesian theory believes that when the economy is doing well and the population is making money, they will spend money but when the economy falls, the population will curb their spending because the income is no longer there.  Keynesian theory states that at the point when the economy is falling that the government should step in to stimulate before it falls even further.  Classical theory looks over a long period of time to focus on where the economy is headed.  Classical theory believes that the free markets will regulate themselves in hopes of correcting over a period of time and without the interference from the government.  Which model would you prefer? You may already prefer one because you are defending your school. Thoroughly explain your reasoning.  I am on the side of the Keynesian economic school of thought.  The economy needs to be regulated on a normal basis and the government only steps in when the help is needed.  I feel that the economy will track depending on unemployment and income.  But history has showed th