Match each economist to his economic belief.

Adam Smith

Friedrich von Hayek

Milton Friedman

John Maynard Keynes

Less government intervention gives

people more economic freedom.

arrowRight

Government should not control the

money supply.

arrowRight

Government intervention is necessary

for stability.

arrowRight

Competition is a regulatory force.

arrowRight

Answers:

Adam Smith

Competition is a regulatory force.

Friedrich von Hayek

Less government intervention gives people more economic freedom.

Milton Friedman

Government should not control the money supply.

John Maynard Keynes

Government intervention is necessary for stability.

Explanation:

Adam Smith's landmark work on The Wealth of Nations (1776) argued against government control of commerce and advocated for competition between business as a self-regulating sort of force.

Friedrich von Hayek's 1944 book The Road to Serfdom was an influential work of classical liberalisn in economics (what today we'd more likely call libertarianism).

Milton Friedmen was skeptical about the value of the Federal Reserve controlling the money supply. Capitalism and Freedom is a collection of his influential essays, published in 1962.

John Maynard Keynes proposed that increasing government expenditures and lowering taxes would stimulate demand and pull the economy out of a state of depression. His approach was adopted by President Franklin D. Roosevelt's New Deal program, which sought to bring the United States out of the Great Depression.