PASIGHAT, 8 Nov: The economics department of the Arunachal Pradesh University (APU) here in East Siang district organized a talk on ‘Societal impacts of classical and Keynesian philosophy’ on Friday.
The objective of the talk was to provide an overview of how the classical and the Keynesian schools of thought have shaped the economic landscape and influenced social policies over the years.
Prof Lijum Nochi from the economics department of Rajiv Gandhi University discussed the fundamentals of economics, focusing on resource allocation, classical economics, laissez-faire principles, and public morality.
He explained the Keynesian ideas, emphasizing on government intervention and market expansions for economic efficiency. He highlighted the need for a balanced approach, combining classical and Keynesian methods, to address both long-term and short-term economic challenges.
The talk provided a comprehensive understanding of how these two economic philosophies have influenced societal development and policymaking, offering attendees a deeper appreciation of the complexities involved in economic theory and practice, said an APU release.
APU Economics Department Head Dr Tagam Dabi, Assistant Professor (Economics) Dr Lige Sora and programme coordinator Obinam Libang also spoke.
