Keynesian economics

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Keynesian economics is a macroeconomic theory based on the ideas of 20th-century British economist John Maynard Keynes. Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle. The theories forming the basis of Keynesian economics were first presented in The General Theory of Employment, Interest and Money, published in 1936; the interpretations of Keynes are contentious, and several schools of thought claim his legacy. Keynesian economics advocates a mixed economy predominantly private sector, but with a large role of government and public sector and served as the economic model during the latter part of the Great Depression, World War II, and the post-war Golden Age of Capitalism, 1945 1970, though it lost some influence following the stagflation of the 1970s. As a middle way between laissez- faire capitalism and socialism, it has been and continues to be attacked from both the right and the left.

Weitere Informationen

  • Allgemeine Informationen
    • GTIN 09786130219000
    • Editor Frederic P. Miller, Agnes F. Vandome, John McBrewster
    • Sprache Englisch
    • Größe H220mm x B150mm x T9mm
    • Jahr 2009
    • EAN 9786130219000
    • Format Fachbuch
    • ISBN 978-613-0-21900-0
    • Titel Keynesian economics
    • Untertitel Macroeconomics, John Maynard Keynes, The General Theory of Employment, Interest and Money, Underconsumption, Classical economics, David Ricardo, John Stuart Mill, Alfred Marshall
    • Gewicht 249g
    • Herausgeber Alphascript Publishing
    • Anzahl Seiten 156
    • Genre Wirtschaft

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