Keynesian

(redirected from Keynes)
Also found in: Dictionary, Thesaurus, Encyclopedia, Wikipedia.

Keynesian

A scholar or other person who believes 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, Keynesians recommend 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.
References in periodicals archive ?
Instead of curtailing expenditure and trying to squeeze more revenue, Keynes would have the government provide a fiscal stimulus for increasing the size of Pakistan's economy or GDP.
Keynes has shown how nations can come out of economic recession by injecting not withdrawing money from the economy.
Though Keynes was also concerned with negative liberty, the bulk of his work emphasized the necessity of economic security and greater equality of outcomes for the preservation of freedom.
IN HAYEK VS KEYNES: A BATTLE OF IDEAS, Thomas Hoerber shows that these and other normative concerns explain many of Hayek's and Keynes's different economic ideas and policy recommendations.
Str'ikingly, the pretense that one could know the optimum stock and quality of human population distinguished Keynes from Malthus.
By treating eugenics as a feature of Keynes's economics, we link his early population writings with the shift of attention to other dimensions of Malthus' preceding the General Theory and, in particular, his own BES Galton Lecture in 1937, including its assertion that the original population devil had been tamed.
Encyclopedia of Economics: "Keynes wrote it to object to the
reparations, led Keynes to resign from the British delegation and write
In this chapter, Rivot also discusses Keynes's and Friedman's view on laissez-faire.
Personally, Chapter 4 was the most interesting part of the book for me since it deals with Keynes's and Friedman's views on the causes and cures for unemployment.
The way in which my MEC is different from Keynes's is that I assume that the supply price adjusts so that there's a "tendency for the net present value of an investment project to equal zero" (Fuller, 2013).
To this I plead guilty--because in that regard, I was following Keynes's lead.