German translation: basierte auf grundlegenden/gravierenden Unterschieden
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
rested on top of deep gulf
basierte auf grundlegenden/gravierenden Unterschieden
English to German translations [PRO] Bus/Financial - Economics
English term or phrase:on top of deep gulf
But, while for Keynes, the key was to keep the sum of government spending and private investment stable, for Friedman the key was to keep the money supply -- the amount of purchasing power in readily spendable form in the hands of businesses and households-- stable.
A relatively minor, technical difference in means, you might say. A difference of opinion that rested on different judgments about how the world works, which could (and ultimately was) resolved by empirical research, you might say. And you would be half right. For this difference in means, tactics, and empirical judgments rested on top of deep gulf in Keynes’s and Friedman’s moral philosophy.