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Keynesian Economics Definition
Keynesian Economics is an economic theory of total spending in the economy and its effects on output and inflation developed by John Maynard Keynes.
New Keynesian Economics Definition
New Keynesian Economics is a modern twist on the macroeconomic doctrine that evolved from classical Keynesian economics principles.
Keynesian vs. Neo-Keynesian Economics: What's the Difference?
Learn the differences between Neo-Keynesianism, which was developed in the post-war period, and classical Keynesian theory—as well as how the two are similar.
Can Keynesian Economics Reduce Boom-Bust Cycles?
Learn about this famous British economist's proposed solution to a widespread economic problem. Economists struggled with problems about the causes of depressions, recessions, unemployment, liquidity crisis, and many other issues for years. Then, Maynard Keynes theories changed everything.
Keynesian and Monetarist economics: How do they differ?
Discover how the debate in macroeconomics between Keynesian economics and monetarist economics, the control of money vs government spending, always comes down to proving which theory is better.
John Maynard Keynes Definition
Keynes is regarded as one of the founding fathers of modern day macroeconomic theories. His ideas have developed into a subset of economic hypothesis called "Keynesian economics."
Milton Friedman Definition
Milton Friedman was an American economist and statistician best known for his strong belief in free-market capitalism.
Macroeconomics studies an overall economy or market system: its behavior, the factors that drive it, and how to improve its performance.
Which factors drive the marginal propensity to consume?
Discover the main factors of economic policy that, according to Keynesian economic theory, drive the marginal propensity to consume.
The History of Economics
Economics is a vital part of everyday life. Discover who created economics and the role it plays in global markets.