English version

Keynesian

From Longman Business DictionaryKeynesianKeynes‧i‧an /ˈkeɪnziən/ adjectiveECONOMICS relating to the ideas of John Maynard Keynes, who believed that, in a RECESSION, the economy can be made to grow and unemployment reduced by increasing government spending and making reductions in interest ratesIn the Keynesian model, a fall in aggregate demand leads to a fall in real income and reduces employment.Keynesian noun [countable]the long-running debate between monetarists and Keynesians as to the precise influence of money on the economyKeynesianism noun [uncountable]the current decline in Keynesianism
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