The document discusses the Great Depression and debates between Keynesian and classical economic theories. It notes economic problems during the Great Depression like the stock market crash and bank failures. It also discusses opposing views between John Maynard Keynes who believed government intervention was necessary for economic stability versus Friedrich August Von Hayek who believed less intervention meant more economic freedom. The document concludes by saying critical decision making should consider different views and prioritize needs over wants.

2. The social and economic catastrophe

3. Other Economic Problems:
- Stock Market Crash
- Bank Failures

4. Produce more
Money
INFLATION

5. Factories were
closed

7. “Government
intervention is
necessary for
economy to
grow and be
stable”
John Maynard Keynes

8. “Less economic
intervention meant
more economic
freedom.”
Friedrich August Von Hayek

11. Relevance:
To think critically in making
decisions, consider different and
important things, the needs should
be prioritized before wants.