Keynesian Economics

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by lenren2456ca11c3ef5fc
Last updated 5 years ago

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Keynesian Economics


Keynesian Economics was developed by the British economist John Maynard Keynes during the 1930s in an attempt to understand the Great Depression. It is an economic theory of total spending in the economy and its effects on output and inflation and it worked by changing levels of interest rates taxes etc to affect the over all economic activity and prevent a severe depression.

Keynesian Economics is still arounnd today. Although it does not have as much influence as it once did, the ideals surrounding this form of economics is still relevant and many believe it to be the best economic form today still. Keynesian economics lost some influence following the oil shock in the 70s but the financial crisis of 2007-08 caused a resurgence.

Keynesian Economics


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