Keynesianism
Definition
Keynesianism is an economic theory that advocates for government intervention in the economy to achieve full employment and stable prices. It was developed by British economist John Maynard Keynes during the Great Depression.
Related terms
Fiscal Policy: This refers to government adjustments of its spending levels and tax rates to monitor and influence a nation's economy.
Great Depression: A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.
Demand-side Economics: An economic theory which argues that economic growth is most effectively created by high demand for products and services.
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