Economics Dictionary of Arguments

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Keynesianism: Keynesianism refers to economic theories developed by John Maynard Keynes, advocating government intervention in the economy through fiscal and monetary policies to stabilize fluctuations, manage demand, and address unemployment during economic downturns. This approach emphasizes boosting demand through public spending and monetary policies to maintain economic stability. See also Government spending, Monetary policy, Demand, Supply, Economy, Fiscal policy, Labour market.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

John R. Hicks on Keynesianism - Dictionary of Arguments

Mause I 57
Keynesianism/John R. Hicks: Keynesianism tried to incorporate the findings by Keynes into neoclassical theory.
>Neoclassical economics
Problem: the neoclassical mainstream assumed that the price mechanism was in principle efficient and capable of ensuring a full employment equilibrium.
Solution: And in order to capture these short-term phenomena, Keynesian analysis was used, which was formalized and annexed to the neoclassical theory building.(1)
>Labour, >Labour market, >Equilibrium.

1. J. R. Hicks, Mr. Keynes and the „classics“; a suggested reinterpretation. Econometrica 5: 1937, S. 147-159.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

EconHicks I
John R. Hicks
Mr. Keynes and the "classis"; a suggested reinterpreation 1937

Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018

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> Counter arguments in relation to Keynesianism

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