Keynesian Economics is an economic theory of total spending in the economy and its effects on output and inflation developed by John Maynard Keynes.
 | | Keynesian Economics | Keynesian economics is an economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed by the British economist John Maynard Keynes during the 1930s in an attempt to understand the Great Depression. Keynes advocated for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the depression.
Subsequently, Keynesian economics was used to refer to the concept that optimal economic performance could be achieved—and economic slumps prevented—by influencing aggregate demand through activist stabilization and economic intervention policies by the government. Keynesian economics is considered a "demand-side" theory that focuses on changes in the economy over the short run. | | Read More » | | Related to "Keynesian Economics" | | | | Inflation | | Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. | | Read More » | | | Economist | | An economist is an expert who studies the relationship between a society's resources and its production or output, using a number of indicators to predict future trends. | | Read More » | | | The Great Depression | | The Great Depression was a devastating and prolonged economic recession that had several contributing factors. The Depression beginning October 29, 1929, following the crash of the U.S. stock market and would not abate until the end of World War II. | | Read More » | | | Classical Economics | | Classical economics refers to a body of work on market theories and economic growth which emerged during the 18th and 19th centuries. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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