from The American Heritage® Dictionary of the English Language, 4th Edition
- Keynes, John Maynard. First Baron of Tilton. 1883-1946. British economist who proposed that high unemployment, being a result of insufficient consumer spending, could be relieved by government-sponsored programs. He also advocated deficit spending by governments to stimulate ecomomic activity.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- proper n. An English surname.
- proper n. John Maynard Keynes, English economist
from the GNU version of the Collaborative International Dictionary of English
- proper n. John Maynard Keynes, the british economist (1883-1946) whose book “The General Theory of Employment, Interest, and Money” (Macmillan, 1936) had a strong influence on views of the government's role in the economy through the 1970's. See Keynesian.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. English economist who advocated the use of government monetary and fiscal policy to maintain full employment without inflation (1883-1946)
Promoted to Headline (H3) on 6/15/09: Are We in the Keynes 'Liquidity Trap, Yet? yahooBuzzArticleHeadline =' Are We in the Keynes\ 'Liquidity Trap, Yet?'
We need to spend enough to be sure Keynes is incorrect.
The reader who sent me the link pointed out that Robert Skidelsky, author of the superb biography of Keynes, is a co-author in the economics section.
The only people since the 1960's who still think Keynes is creadible are people who have ignored the previous 60 years of history and a small handful of academics and politicos who can't let their socialist dream die the death it deserves.
It's just evidence of non-serious thinking to still believe in Keynes!
After forty years of Chicago school dominance, Keynes is back.
Keynes is instructive here, in a very real sense it is impossible for society to 'save'.
The bottom line with Keynes is that government interference in the economy was seen as a means of CONTROLLING growth.
While Keynes is all the rage these days, as the way things actually "work" in our society are laid bare for a short period, Veblen keeps popping up in my head.
Keynes is about upsetting high unemployment, low output equilibrium, not government spending to offset private savings.