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Keynesian Economics
(redirected from Keynesian policies)

   Also found in: Wikipedia 0.01 sec.
Keynesian economics
An economic theory of British economist, John Maynard Keynes that active government intervention is necessary to ensure economic growth and stability.

Keynesian Economics
A theory stating that government intervention is necessary to ensure an active and vibrant economy. According to this theory, government should stimulate demand for goods and services in order to encourage economic growth. It thus recommends tax cuts and increased government spending during recessions to reinvigorate growth; likewise, it recommends tax increases and spending cuts during economic expansion in order to combat inflation. Many economists believe that Keynesian economic theory is more efficient than supply-side economics, though critics point to the theory's inability to explain stagflation in the United States during the 1970s.


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Economists learned in the 1970s that Keynesian policies don't work.
After all, in today's context, the pursuit of Keynesian policies looks even more profitable than the pursuit of market fundamentalism
The vision of the more moderate tendency includes left Keynesian policies combined with further welfare reforms, but does not extend beyond a market system with a "mixture" of private and public enterprise.
 
 
 
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