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  2. Keynesian economics - Wikipedia

    en.wikipedia.org/wiki/Keynesian_economics

    Post-Keynesian economists, on the other hand, reject the neoclassical synthesis and, in general, neoclassical economics applied to the macroeconomy. Post-Keynesian economics is a heterodox school that holds that both neo-Keynesian economics and New Keynesian economics are incorrect, and a misinterpretation of Keynes's ideas. The post-Keynesian ...

  3. Comparison of Marxian and Keynesian economics - Wikipedia

    en.wikipedia.org/wiki/Comparison_of_Marxian_and...

    Marxism and Keynesianism is a method of understanding and comparing the works of influential economists John Maynard Keynes and Karl Marx.Both men's works has fostered respective schools of economic thought (Marxian economics and Keynesian economics) that have had significant influence in various academic circles as well as in influencing government policy of various states.

  4. John Maynard Keynes - Wikipedia

    en.wikipedia.org/wiki/John_Maynard_Keynes

    Keynesian economics were officially discarded by the British Government in 1979, but forces had begun to gather against Keynes's ideas over 30 years earlier. Friedrich Hayek had formed the Mont Pelerin Society in 1947, with the explicit intention of nurturing intellectual currents to one day displace Keynesianism and other similar influences.

  5. Supply creates its own demand - Wikipedia

    en.wikipedia.org/wiki/Supply_creates_its_own_demand

    Keynes's interpretation is rejected by many economists as a misinterpretation or caricature of Say's law — see Say's law: Keynes vs. Say — and the advocacy of the phrase "supply creates its own demand" is today most associated with supply-side economics, which retorts that "Keynes turned Say on his head and instead stated that 'demand ...

  6. The General Theory of Employment, Interest and Money

    en.wikipedia.org/wiki/The_General_Theory_of...

    The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution".

  7. Keynes effect - Wikipedia

    en.wikipedia.org/wiki/Keynes_effect

    The Keynes effect is the effect that changes in the price level have upon goods market spending via changes in interest rates.As prices fall, a given nominal money supply will be associated with a larger real money supply, causing interest rates to fall and in turn causing investment spending on physical capital to increase.

  8. Keynes's theory of wages and prices - Wikipedia

    en.wikipedia.org/wiki/Keynes's_theory_of_wages...

    Keynes makes use for the first time of the "first postulate of classical economics", and also for the first time assumes the existence of a unit of value allowing outputs to be compared in real terms. He depends heavily on an assumption of perfect competition, which indeed is implicit in the "first postulate".

  9. Principle of effective demand - Wikipedia

    en.wikipedia.org/wiki/Principle_of_effective_demand

    The importance of the term 'effective demand' to Keynesian Economics in general is shown in the fourth paragraph of the chapter, where he states that this concept of effective demand, i.e. the intersection of the supply and demand functions, is the "substance of the General Theory" and says that "the succeeding chapters will be largely occupied ...