Keynes
Keynes refers to John Maynard Keynes, the British economist whose theories fundamentally reshaped modern economic thought.
His ideas, developed during the Great Depression, argued that government spending and intervention could stabilize economies during downturns.
The adjective Keynesian describes economic policies based on his work, particularly deficit spending to stimulate demand: Keynesian economics fell out of favor in the 1980s but resurged during the 2008 financial crisis.
To invoke Keynes is often to advocate for active government economic management.
University city, two countries
- Bloomsbury GroupEdwardian artistic-literary collective
- EtonElite English boarding school
- King's CollegeCambridge university college
- BloomsburyCentral London district
Sussex · Virginia Woolf · biographer · Harrod · Moore · Russell · Charleston · arts patron
How spending compounds economically
- animal spiritsInstinctive economic confidence
- expectationsBeliefs about future outcomes
- uncertaintyState of being unsure
- equilibriumState of balance
deficit spending · pump priming · government intervention · full employment · stabilization · demand-side · fiscal stimulus
WWI peace settlement
- Great Depression1930s global economic crisis
- World War IFirst global military conflict
- World War IISecond global military conflict
- Paris Peace Conference1919 postwar diplomatic gathering
IMF · World Bank · reparations · New Deal · postwar reconstruction · Marshall Plan
Cambridge
University city, two countries
- Bloomsbury GroupEdwardian artistic-literary collective
- EtonElite English boarding school
- King's CollegeCambridge university college
Bloomsbury · Sussex · Virginia Woolf · biographer · Harrod · Moore · Russell · Charleston · arts patron · Liberal Party
multiplier effect
How spending compounds economically
- animal spiritsInstinctive economic confidence
- expectationsBeliefs about future outcomes
- uncertaintyState of being unsure
equilibrium · deficit spending · pump priming · government intervention · full employment · stabilization · demand-side · fiscal stimulus
Versailles Treaty
WWI peace settlement
- Great Depression1930s global economic crisis
- World War IFirst global military conflict
- World War IISecond global military conflict
Paris Peace Conference · IMF · World Bank · reparations · New Deal · postwar reconstruction · Marshall Plan
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- 20th Century IconsEinstein, Churchill, Gandhi, Hitler, FDR
- thinkersthinkers, thinker, philosophers, philosopher, Aristotle
- UK economyBank of England, pound sterling, GDP, London Stock Exchange, sterling
- intellectualsscholar, intellectual, academic, thinker, philosopher
- Textbook AuthorsJames Stewart, Campbell, Kaplan, Robbins, Harrison
KeynesHayek
Austrian free-market economist
Milton Friedman · laissez-faire · monetarism · Austrian economics · supply-side economics
- John Maynard Keynes
- Keynesian economicsSpending-driven macroeconomic theory