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Keynesian economics |
Also found in: Wikipedia, Hutchinson | 0.03 sec. |
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Keynesian economics An economic theory of British economist, John Maynard Keynes that active government intervention is necessary to ensure economic growth and stability. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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As an in-depth scholarly study of the economics and Keynesian theory, The Elegar Companion To Post Keynesian Economics delves extensively into a political and theory-based post-Keynesian economics, including essays, analysis and other contributions from dozens of economic leaders worldwide. New Keynesian theory (Hall 1990, Mankiw and Romer 1991, Bernanke and Carey 1996, and Borda etal 2000) argues that the business cycle is generated by the instability of aggregate demand and supply. For one thing, as Hamilton dreamed, the national debt always reflected the cost of wars and depressions, at least until after World War II, when instead of reducing debt, economists used fiscal policy to pursue dreams that couldn't be fulfilled because of the inherent flaws of Keynesian theory. |
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