Question

Compare how an Austrian economist and a Friedmanite economist feel about government
intervention in the economy. (1 point)
- An Austrian economist believes the government should only influence the economy during a recession. A Friedmanite economist believes that, whenever
the government tries to get more involved in the economy, it makes it worse.
- An Austrian economist believes that the government should stabilize the economy by controlling the supply of money. A Friedmanite economist believes
that, whenever the government tries to get more involved in the economy, it
makes it worse.
- An Austrian economist believes that the government should stabilize the economy by controlling the supply of money. A Friedmanite economist believes
the government should only influence the economy during a recession.
- An Austrian economist believes that, whenever the government tries to get more involved in the economy, it makes it worse. A Friedmanite economist believes that the government should stabilize the economy by controlling the
supply of money.

Answer 1

The difference between a Friedmanite economist and an Austrian economist is that:

• An Austrian economist believes that, whenever the government tries to get more involved in the economy, it makes it worse. A Friedmanite economist believes that the government should stabilize the economy by controlling the supply of money.

Who is an Austrian economist

This is a person that believes that the government does not have to try to influence the economy. According to them if the government tries to intervene, things would get worse.

Who is a Friedmanite?

This is a person that believes in free trade and a smaller government. This person also believes in the control of money supply by the government.

Read  more on friedman here:

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