Definition: Keynesianism is an economic theory that emphasizes the role of government intervention in the economy to stabilize prices and promote economic growth. The theory was developed by John Maynard Keynes, a British economist who lived from 1883 to 1946. It is based on the idea that the price level can be manipulated through monetary policy, such as lowering interest rates or raising taxes, in order to stimulate consumer spending and boost economic growth. Keynesianism was initially developed during

keynesianism

Definition: The term "keynesian" is a technical concept in economics that refers to a particular economic theory or model, which suggests that the relationship between an individual's income and their wealth is determined by the amount of money they earn, rather than by the quantity of capital they own. This idea has been central to various theories of economic growth and development, including Keynesian economics and neoclassical economics. Keynesian models often emphasize the importance of saving, investment, and consumption in determining an

keynesian