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Keynesian Economics
(redirected from Keynesians)

    Also found in: Wikipedia, Hutchinson 0.03 sec.
Keynesian Economics
An economic theory stating that active government intervention in the marketplace and monetary policy is the best method of ensuring economic growth and stability.

Notes:
A supporter of Keynesian economics believes it is the government's job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation.

Keynesian economics
An economic theory of British economist, John Maynard Keynes that active government intervention is necessary to ensure economic growth and stability.
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His virtues include a disinterested concern with economic outcomes and a willingness to accept the pragmatic goals of "full employment" and "reasonable price stability"--written into the Federal Reserve Act in 1978 when Old Keynesians could get away with such things.
Fed ache: an insider's account of the Greenspan machine by Galbraith, James K. / Washington Monthly
Liberalism's triumph turned to hubris by Richard Nixon's first term--when even Nixon proclaimed that "we are all Keynesians now," and sponsored a form of guaranteed income for the poor.
What works & what doesn't by Morris, Charles R. / Commonweal
And as Richard Nixon once declared, "We are all Keynesians now.
A kinder, gentler deficit. (Competing Interests) by Gross, Daniel / Chief Executive (U.S.)
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