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2 days ago · As a result, many Keynesians recommended that fiscal policy, increasing government spending or lowering taxes, would have to come in and fill the gap. Alvin H. Hansen took this idea and developed his famous "stagnation thesis".
- Keynes and Classical Economics
5 days ago · Keynes' propositions formed the basis of Keynesian economics which came to dominate macroeconomic research and economic policy in the first decades after World War II. [10] : 526 Other Keynesian economists developed and reformed several of Keynes' ideas.
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2 days ago · According to Keynesian economists aggregate expenditures consist of the sum of consumption, investment, government, and net export spending. Keynesian economists argued that firms collectively produce a level of real output that they expect to sell. However, sometimes aggregate expenditure is insufficient to buy all the output produced.
1 day ago · Due to its contradictory nature, capitalism depends on the existence of societal institutions beyond the market to temporarily stabilise it. This chapter builds upon regulation theory, which was designed to consider the specific social, cultural and institutional forms and frameworks within which economic growth in capitalist societies proceeds. According to this theory, accumulation regimes ...
5 days ago · This paper contributes to the debate on the re-appraisal of monetization mechanism as a possible tool for dealing with macroeconomic imbalances due to close economic shocks (e.g. the Covid pandemic, the Russia-Ukraine conflict and the escalation in Israel-Hamas crisis). We analyze and empirically discuss the well-known Quantity Theory of Money (QTM), by applying the SVAR methodology to a ...
5 days ago · Great Depression: The Great Depression was the greatest and longest economic recession of the 20th century and, by some accounts, modern world history. By most contemporary accounts, it began with ...
5 days ago · Born: 1946, New York, New York, U.S. (age 77) Awards And Honors: Nobel Prize (2023) Claudia Goldin (born 1946, New York, New York, U.S.) is an American economist and winner of the 2023 Nobel Prize for Economics (the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel) for “having advanced our understanding of women’s ...
