Keynesianism

Found in Anh - Anh (Wordnet)

Definition Noun : * An economic theory and policy approach : Keynesianism is a macroeconomic theory based on the ideas of the 20th-century economist John Maynard Keynes. It argues that aggregate demand (total spending in the economy) is the primary driver of economic output and employment. A core tenet is that during recessions, private sector demand is often insufficient, so active government...