Discussion on the Keynesian Critique of Classical Macroeconomics

Discuss the Keynesian critique of classical macroeconomics. How does Keynesian economics depart from the policy traditions of classical economics?

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...hat's wrong with the economy and re-establish the equilibrium.

Keynes' IS-LM model took issue with this view in several key areas that you might discuss:

-Classical theory states that prices and wages adjust quickly to external shocks.
-Keynes' model has prices that adjust sluggishly as a result of things like menu costs, shoeleather costs, long-term contracts, and production constraints.

-As a result of the previous tenants, classical theory predicts the economy is always close to a general equilibrium while ...