Economists
Countries
Theories
Terms
Leaders
100
He believed that government deficit spending helped bring countries out of recession
Who is John Maynard Keynes
100
First democracy to implement free-market policies
What is Bolivia
100
This theory speaks of an object that supposedly magically makes the economy work and correct itself
What is the invisible hand
100
A general increase in prices and the fall in the purchasing value of money
What is inflation
100
The Russian leader who lead the country through its failure in the transition to Capitalism
Who is Boris Yeltsin
200
He agreed with Keynes, but believed in free-market policies but they needed aid and debt forgiveness to work
Who is Jeffrey Sachs
200
This country was introduced to shock therapy at the end of the Cold War
What is Russia
200
Jeffrey Sachs believed that in the implementation of free-market policies, great amounts of ____ and ____ forgiveness were needed
What is aid and debt
200
Government controls of the economy to keep greed and corruption in check
What are regulations
200
This leader has been in charge of dealing with the 2008 economic crisis. Some critics say he hasn't done enough
Who is Barrack Obama
300
The original free-market philosopher
Who is Adam Smith
300
This country was the cause of the major financial crisis of 2008 due to lack of regulations on its financial sector
What is the United States
300
Adam Smith pioneered this theory regarding the relationship between business and governments
What is the "political economy"
300
When a single company has control of a market or niche (also a board game)
What is a monopoly
300
He seized power in Chile during a coup d'etat and implemented shock therapy for the first time
Who is Augusto Pinochet
400
The group of economists that helped Augusto Pinochet transform Chile into a free-market society
Who are the Chicago Boys
400
This country was the first to be introduced to economic shock therapy
What is Chile
400
This theory says that government spending is needed to bring countries outof recession
What is the "general theory"
400
Another term for free-market economics
What is Capitalism
400
This man lead South Africa out of Apartheid and straight into a free-market trap
Who is Nelson Mandela
500
The most radical of the free-market economists. He advised Augusto Pinochet after his original plan didn't work.
Who is Milton Friedman
500
This country was brutally turned into a free-maret state and is now the manufacturing centre of the world.
What is China
500
The name for the theory that economies must be quickly and completely altered if they are to become properly made into free-market societies
What is shock therapy
500
He won the elections in Bolivia and implemented shock therapy for the first time in a democracy
Who is Victor Paz Estenssoro
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