Keynes vs. Smith: Great Economists

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Across
  1. 2. System where individuals act in their own self-interest
  2. 3. Invisible force guiding free markets
  3. 8. Government action Keynes promoted during recessions
  4. 9. Smith’s lasting legacy
  5. 13. Opposite of unemployment in Keynes’s theory
  6. 15. Smith believed labor created this
  7. 16. Idea that government spending can create more than one dollar of activity
  8. 17. Excessive saving can reduce demand according to Keynes
  9. 21. Economic event that influenced Keynes’s ideas
  10. 22. British economist who wrote The General Theory of Employment, Interest and Money
  11. 25. Economic philosophy meaning “let do” or minimal government
  12. 26. Keynes believed this should manage demand
  13. 27. Trade between nations supported by Smith
  14. 28. British nationality of Keynes
Down
  1. 1. Economic school based on Smith’s ideas
  2. 4. Keynes’s view that markets do not always fix themselves
  3. 5. Spending cuts during recession make things worse, according to Keynes
  4. 6. Breaking work into specialized tasks
  5. 7. The total demand for goods and services in an economy
  6. 8. Concept that individual gain benefits society
  7. 10. When the government spends more than it collects in taxes
  8. 11. Opposite of competition that Smith opposed
  9. 12. Scottish economist known as “Father of Economics”
  10. 14. Government role limited to protecting property and enforcing contracts
  11. 15. His most famous book, published in 1776
  12. 18. The year Keynes published The General Theory
  13. 19. Using taxes and spending to control the economy
  14. 20. Total money spent on goods and services
  15. 23. Smith’s nationality
  16. 24. Smith’s example of dividing work to raise productivity