In The 1970s
A. the Neo-Liberals led by Milton Freedman, popularized Hayeks economic theories
B. Keynes remained the most popular economic guide
C. The US economy continued to thrive as in its golden age, post WWII
D. Milton Freedman disagreed with Friedrich Hayek
To determine the correct answer, we need to go back to the 1970s and look at the economic landscape and the views of economists during that time. Let's break down each option:
A. the Neo-Liberals led by Milton Friedman, popularized Hayek's economic theories.
To verify this statement, we need to understand who Milton Friedman and Friedrich Hayek were and whether they had any association in the 1970s. Milton Friedman was a prominent American economist known for his advocacy of free-market capitalism. Friedrich Hayek, on the other hand, was an influential economist who championed the ideas of classical liberalism and the free market. Both Friedman and Hayek were well-known economists, but their views differed in some areas.
While Friedman was a defender of free markets, he had his own economic theories and was not necessarily a follower of Hayek. Therefore, it is not accurate to say that the Neo-Liberals led by Milton Friedman popularized Hayek's economic theories in the 1970s.
B. Keynes remained the most popular economic guide.
This statement refers to John Maynard Keynes, a British economist who advocated for government intervention in the economy during times of recession. To determine if Keynes remained the most popular economic guide in the 1970s, we need to examine the prevailing economic theories during that time. In the 1970s, there was a significant shift in economic thinking with the emergence of monetarism and supply-side economics, which questioned Keynesian theories.
As a result, it is not accurate to say that Keynes remained the most popular economic guide in the 1970s. While his ideas were still influential, they faced challenges from alternative theories.
C. The US economy continued to thrive as in its golden age, post-WWII.
To assess the accuracy of this statement, we need to examine the economic performance of the United States during the 1970s. The 1970s were marked by several economic issues such as oil price shocks, high inflation, and a recession. These challenges had a negative impact on the US economy and led to a period of slower growth compared to the post-WWII golden age. Therefore, it is not accurate to say that the US economy continued to thrive as it did in its golden age during the 1970s.
D. Milton Friedman disagreed with Friedrich Hayek.
To confirm the accuracy of this statement, we need to examine the relationship between Milton Friedman and Friedrich Hayek. While both economists shared some common views on the importance of free markets, they also had differing perspectives on certain aspects of economic theory. For instance, Hayek was critical of certain forms of government intervention while Friedman believed in the necessity of monetary policy to stabilize the economy.
Therefore, it is accurate to say that Milton Friedman disagreed with Friedrich Hayek on certain economic issues.
Based on the analysis, the correct answer is:
D. Milton Friedman disagreed with Friedrich Hayek.