In 1929, the Great Depression set grounds for two very different economic ideologies to immerged, a Cambridge economist and government adviser, John Maynard Keynes, and little-known Austrian economics professor, Friedrich von Hayek. Keynes believed that government had a duty to spend, stimulating the economy, particularly in times when others would not. Hayek considered attempts to intervene in the economy both pointless and potentially dangerous stating that a laissez-faire approach to policy and the free operations of markets would bring about a natural balance between supply and demand (Wapshott, 2011). Their theories still apply today. The Democrats believe increased federal grant funding for low- and moderate-income students are critical
