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.

biography

Cambridge

University city, two countries

Bloomsbury · Sussex · Virginia Woolf · biographer · Harrod · Moore · Russell · Charleston · arts patron · Liberal Party

economics

multiplier effect

How spending compounds economically

equilibrium · deficit spending · pump priming · government intervention · full employment · stabilization · demand-side · fiscal stimulus

historical

Versailles Treaty

WWI peace settlement

Paris Peace Conference · IMF · World Bank · reparations · New Deal · postwar reconstruction · Marshall Plan

Categories
Opposites
economic philosophy

KeynesHayek

Austrian free-market economist

Milton Friedman · laissez-faire · monetarism · Austrian economics · supply-side economics

Phrases
Family

Keynesian, Keynesianism, Keynesian economics

Familiarity
Top 500,000
Profile
Used worldwide · Timeless · Concrete · Rated G