By: Jaden F, Abby F, Kylie C, Alec B, and Nick B
Smith would advise us when to interfere and when to ease up on regulations concerning companies. Anything relating to when the government's intervention is needed or not needed, would be his areas of expertise.
He advocated a hard money policy where a specific amount of money in a circulation would increase at the same rate as the nation’s economic growth. He was the definitive defender of a free-market capitalism. He also had advocated the necessity of floating currency. Friedman also won a nobel prize. Friedman was also an advisor that would enable us to maintain a strong currency.
In Hayak's eyes, the virtue of the free-market was that it gave the maximum latitude for people to use information that only they have. It would be very beneficial to have Hayek as an advisor to be able to achieve a balance of supplying a fair amount of rewards to each citizen.
John Maynard Keynes
By having him as one of our economic advisors, it would benefit our island’s economy because his advice of increasing interest rates when the prices of things are low to pay off the people that create the products, and are dropping in the price value.