Keynesian

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a follower of the economic theories of John Maynard Keynes

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References in periodicals archive ?
Faced with the crisis itself, the New Keynesians had risen to the challenge.
They differ on one thing and one thing only: the left wing Keynesians centered at Harvard and MIT believe the way to handle these supposed market imperfections is through fiscal policy, while the right wing Keynesians such as yourself, and others preeminently from the University of Chicago, support monetary policy.
They marginalized Keynesians and breathlessly re endorsed the old pre 1929 neoclassical" economics that exalted private enterprise and free markets as guarantors of prosperity.
Much later, Keynesians came to posit that people had trouble distinguishing between nominal and real wages.
Chapters 8 and 9 look at the ways in which various dissenters from the microfoundations dogma--Old Keynesians, Post-Keynesians, the Austrians, Old Institutionalists--have approached the connection between macroeconomic and microeconomic phenomena.
Today the dispute has turned to the Keynesians versus the Austerians (shouldn't they get a capital letter if the other two schools do?
Moreover, the roots of the financial and economic crisis are exactly the opposite of what Keynesians usually assume.
The Keynesian explanation is that we're still recovering from the financial panic, though it's worth recalling that in January 2010 the Fed predicted that growth in 2012 would be 3.
He has shown in his work, most notably with Silvia Ardagna, that the common Keynesian assumption--not only embedded deeply within macroeconomic theory, but also intrinsic to it--that increases in public spending during recessions will promote more rapid economic and employment growth is an assumption that may be contrary to the actual facts.
Yale University Professor Robert Shiller--an economist who was one of the few Keynesians to predict the housing bubble and bust of 2002-2008--called massive government "stimulus" spending during the recession a grand Keynesian "experiment.
Keynesians call upon the Federal Reserve to buy Treasury bonds from the public beyond what is necessary to finance the deficit through its open market operations so that the fiscal expansion is reinforced by a monetary expansion that keeps interest rates from rising.
Wapshott believes modern economics is bifurcated between interventionist Keynesians and anti-interventionist Hayekians.
But that may not matter, because the Keynesians are still in charge of everything.
Finally, although Hayek explicitly criticized Keynes for his socialist views in The Fatal Conceit (1988) and may have indirectly criticized him in The Road to Serfdom (1944), I do not want to stress this point in this paper because Keynesians usually defend public investment as a complement to private investment, and they usually do not propose a "comprehensive socialisation" of investment.
And yet, every day we awake to the real-world impacts of the debate between Keynesians and Hayekians.