Question

what are the main difference among conservative, liberal, and radical economist?

Answer 1

*conservative economist believe in minimal intervention by government,they want market to function efficiently but if the market becomes inefficient then government intervention will be required.liberal economist believe in free market idea and according to them market mechanism is very strong and it can expand to a large extent.too many restrictions should not be put on firms so that will function liberally.some of the capitalist economist come under this category.

Radical economist believe in change.change in the market,change in government perspectives towards market.for example government changing from socialist to communist and other political reforms are beliefs of radical economist.