The Keynesian economic theory is based on a circular flow of money. Unlike the neoclassical/neoliberal positions, the Keynesian theory supports policies that regulate the money flow in the market. The regulations and policies minimize monopolies, fraud and maximize secure trading. Looking back at the "Great Depression" we will see that Keynesian economy is what got us out of the problem by encouraging people to spend money and keeping the circular flow of money going to restore jobs, help businesses survive and the ability to provide consumer demands.
The Keynesian theory also supports the redistribution of wealth. Keynesian economics believe that massive redistribution of wealth promotes economy. When the money is given to the poorer sector of society, they are more likely to spend it to fulfill their needs than save it. This act promotes economy due to the increase of money in the circular flow.
On the other hand, neoclassical theory promotes free market with minimal regulations. It depends merely on the business agents to make the right decisions. Therefore, the fluctuations and changes can lead to economic instability and crises.
Pollan described in his book how McDonald's offer food that does not really taste like food. His cheeseburger that does not taste anything like beef or the McNuggets that has nothing to do with chicken. Yet, these items have high consumer demands and brings the seller millions of dollars daily. This is an example of neoclassicism where the wealthy become wealthier by providing low quality products (and usually after a while the quality gets poorer and the prices get higher!) for the average/low income people to keep consuming.
After reading about both economic theories, I strongly side with the Keynesian theory because it does not leave it 100% up to the business agents and the free market idea to make up our economy, but instead it promotes the importance of monitoring, and guiding the appropriate public policies to ensure financial stability.
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