Friedman Keynes. Friedman and keynes came from opposing ends of economic ideology. First friedman uses a broader definition of money than that of keynes in order to explain his demand for money function.
What is most important to extrapolate from keynes survives the falsification of some of. Since friedman spent much of his intellectual energy. The thesis of this note is that what is most important about keynes was that he called attention to staggering features of the basic structure namely the chronic insufficiency of effective demand and the chronic insufficiency of the inducement to invest.
Simply put the difference between these theories is that monetarist.
First friedman uses a broader definition of money than that of keynes in order to explain his demand for money function. John keynes and milton friedman were the most influential economists of the 20th century. John maynard keynes was dead so did not directly argue the point keynesians viewed. In an article published in 1986 friedman glorified keynes as a brilliant scholar and one of the great economists of all time he described the general theory as a great book although he considers his tract on monetary reform as his best work.
