Questions what is the main features of the socialist economy?

Theories of J.M.Keynes.

Key words: macroeconomic economic, lower taxes, government policy.

Keynesian economics (/ˈkeɪnziən/ KAYN-zee-ən; sometimes Keynesianism, named for the economist John Maynard Keynes) are various macroeconomic theories about how economic output is strongly influenced by aggregate demand (total spending in the economy). In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Instead, it is influenced by a host of factors. According to Keynes, the productive capacity of the economy sometimes behaves erratically, affecting production, employment, and inflation.[1]

Keynesian economics developed during and after the Great Depression from the ideas presented by Keynes in his 1936 book, The General Theory of Employment, Interest and Money.[2] Keynes' approach was a stark contrast to the aggregate supply-focused classical economics that preceded his book. Interpreting Keynes's work is a contentious topic, and several schools of economic thought claim his legacy.

60. 
    Give general information about Adam Smith’s book “Nature and Causes of the Wealth of Nations”
    

Key words: 1776 year, classical economy, labor.

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets.

61.