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Economy/Keynesianism: In the sense of Keynesian approaches, economic fluctuations can be on the demand side of the goods markets if the spending decisions of companies and private households are driven by uncertainty and exuberance (so-called animal spirits by Keynes). Income distribution can also influence demand for goods, for example if the upper income groups have a lower marginal selling tendency than the lower income groups. (1) See Supply/Neoclassical Economics.
Keynesian models justify economic cycles by the inherent instability of the private sector (fluctuations in private consumption and investment demand, in net exports and demand for money). In the event of underutilization of production capacities due to low demand, the central bank or the government should intervene to stabilise demand through a mix of interest rate cuts, tax cuts and higher spending (so-called expansive monetary and fiscal policy). See Economy/Neoclassical Theory. KeynesianismVsNeoclassical Economics).
1. Behringer, Jan, Christian A. Belabed, Thomas Theobald, und Till van Treeck. Einkommensverteilung, Finanzialisierung und makroökonomische Ungleichgewichte. Vierteljahreshefte zur Wirtschaftsforschung 82 (4), 2013, p. 203– 221._____________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. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
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