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Visit Economics U$A videos and watch Program 16: "Boom and Bust":.................. http://www.learner.org/vod/vod_window.html?pid=2468 Q1) What factors contributed to the powerful influence of Karl Marx early in the twentieth century? Q2) How did the views of economist Joseph Schumpeter differ from those of Karl Marx? Q3)On what basic but critical point did John Maynard Keynes's philosophy of economics differ from what adherents to Say's law believed? Q4)Although he was dead by the time it occurred, economist Hyman Minsky provided a promising explanation for the Great Recession of 2008. What did he believe?

Explanation / Answer

For starters Karl Marx believed that the middle class was the powerful class in his socialism theory. Marx believed that capitalism would be destroyed by its enemies, Schumpeter believed capitalism would be destroyed by its success

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