Theories of economics

Keynesian Economics: Known as a macroeconomic theory, Keynesian economics supports government intervention in the economy during recessions. According to the argument, government expenditure can boost economic activity and promote demand, which can lower unemployment and stabilize the economy.

Supply-Side Economics – According to this economic theory, lowering production and investment obstacles like taxes and regulations can boost economic growth. According to the argument, removing these obstacles will give firms more funds to invest in their operations, which will boost output, employment, and economic growth.

when it comes to social theories:

Social Learning Theory – Social learning theory is a psychology theory that proposes that people learn through observing others and the effects that their actions have. The statement means that behavior is impacted by cognitive functions like motivation, memory, and attention, and that action may be changed by either negative or positive reinforcement.

Conflict Theory – Conflict theory is a sociological theory that contends that social inequality and power disparities are the root causes of conflict in society. According to the notion, conflict develops as groups strive for resources and power and is a natural part of civilization. According to conflict theorists, societal change happens whenever the power dynamic swings in favor of one group over another.