Advantages of the Austrian Economic School:
- Emphasizes individual freedom and limited government intervention.
- Focuses on market-driven allocation of resources.
- Advocates for sound money and minimal inflation.
Disadvantages of the Austrian Economic School:
- Critics argue it may not effectively address market failures or inequalities.
- Some find it rigid in its opposition to any government intervention.
Advantages of Keynesian Economics:
-Promotes government intervention to stabilize the economy during recessions.
-Supports public spending to stimulate demand and create jobs.
-Recognizes the importance of addressing income inequality.
Disadvantages of Keynesian Economics:
- Critics argue it can lead to government overreach and excessive debt ( thats happening , we can see in the US)
- May not provide a clear roadmap for managing long-term economic growth.
- Some view it as potentially causing inflation if not managed carefully ( we can see everyday, in all countries)