Question

what are the criticism on Keynes explanation?​

Answer 1

Answer:

Criticisms of Keynesian Economics

Borrowing causes higher interest rates and financial crowding out. Keynesian economics advocated increasing a budget deficit in a recession. However, it is argued this causes crowding out. For a government to borrow more, the interest rate on bonds rises.

Answer 2

Criticism of Keynesian Theory

One of the more outspoken critics of Keynes and his approach was economist Milton Friedman. Friedman helped develop the monetarist school of thought (monetarism), which shifted the focus toward the role money supply has on inflation rather than the role of aggregate demand.