Neoclassical economists prioritize long-term growth, focus on reducing natural unemployment rate, and emphasize enhancing productivity.
Neoclassical economists prioritize promoting long-term growth over fighting recession, as they believe that recessions will naturally resolve and long-term growth is critical for standard of living. They focus on reducing the natural rate of unemployment rather than cyclical unemployment caused by recessions. Government policies under neoclassical economics aim to enhance factors like human capital, physical capital, and technology to foster productivity and growth.
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