Essay In chapter 2 we discussed pure competition economic systems
I need to expand on that paper with an in depth discussion of an example of the theory. i,e, If you wrote in Friedman, you might do an in depth analysis of monetary policy as used in the 2007-09 recession.
My paper should be 7-8 pages in length (800 words already done. I need an additional 1000 words)
It should have 3-5 works cited.
You have 40hrs.
This is the initial Assignment Instructions. I am also attaching the paper already done that i need expanded to include the instructions above.
In chapter 2 we discussed pure competition economic systems, pure command systems, and mixed systems. It is relatively clear that there are few if any pure systems in the world; most economic systems are mixed. One economic theorist discussed was Adam Smith and his theory of the invisible hand. There are a great number of classical economic theorists such as Keynes, Ricardo, Friedman, Marx, or Marshall to name a few.
For this paper, identify and research an economic theorist. Explain the theory and the impact it has or how it helps explain current economic systems’ practices. Also many theorists’ works have been added to or built upon by later theorists. What are these changes and do they help support current economic thought? NOTE:If you are planning to take Macroeconomics, feel free to research a Micro- or Macro- economic theorist.