The Keynesian vs Monetarist debate is a longstanding argument between two major schools of economic thought about policy methods and the government's role in the economy.
Keynesian economics, based on John Maynard Keynes' theories, believes government spending and fiscal policy are the most effective tools for overcoming recessions and boosting demand.
Monetarist economics, led by Milton Friedman, argues that controlling the money supply (monetary policy) is the most important way to ensure economic stability.
The key difference: Keynesians prioritize fiscal policy during downturns, while Monetarists emphasize controlling money supply.
In Bangladesh, both schools of thought influence policy. Monetary policy is used to control inflation (Monetarist approach), while increased government spending drives economic growth (Keynesian approach).