Keynesianism
- noun
- /keɪnziənɪzəm/
- Specialized
- Many economists believe that Keynesianism is essential for managing economic fluctuations effectively.
- military Keynesianism
Examples
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The Mises Institute, CATO, and Reason address the problems of Keynesianism almost every day.
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Business leaders were clearly more open to military Keynesianism than to its social-spending alternative.
Academic text (2003) -
"The US economy is now dependent on financial 'innovation' and 'military Keynesianism.'
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An embrace of military Keynesianism appealed to labor on a number of levels.
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Actually, Paul Krugman says that Keynesianism is the only economic model we have that has ever worked.
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Is the whole idea of Keynesianism merely to keep skills from deteriorating until the economy is back to full employment?
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The result of our adherence to some form of Keynesianism ever since has been a staggering national debt.
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"Economic ignorance is commonplace, as the failed policies of Keynesianism are continually promoted..."
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The replacement of the cruder forms of Keynesianism by a powerful monetary economics school led by Milton Friedman.
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Kennedy returned to Keynesianism, loosening monetary policy and increasing government spending to create our first non-war, non-recession deficit.
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Compounds
- Formal
A belief that government can manage the economy by changing taxes and spending to control demand
Surface Forms
Morphology
Keynesianism = Keynesian (transparent) = Keynes + ian + ism
Formed by the proper name 'Keynes' + productive adjectival suffix '-ian' (Keynesian), then the standard ideological noun-forming suffix '-ism', giving a directly derived meaning.
Etymology
Keynesianism comes from the name Keynes, the economist John Maynard Keynes, and the ending -ism, which means 'a set of ideas'. So Keynesianism means the economic ideas 'of Keynes', especially the belief that the government should step in to keep jobs and keep the economy steady.