Characterized as noninterventionists

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Monetarists are often characterized as ‘noninterventionists’ while modern Keynesians are characterized as ‘interventionists’. Why do Monetarists argue against intervention? What are the afraid of? Why do modern Keynesians argue in favor of intervention? What are they afraid will happen if the system is left to work things out on its own? Explain carefully.

Reference no: EM131173886

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