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Economics - Keynesian economics

britannica.com

Keynesian Economics

John Maynard Keynes (1883-1946) was interested in the level of national income and the volume of employment rather than in the equilibrium of the firm or the allocation of resources. 

He was still concerned with the problem of demand and supply, but “demand” in the Keynesian model means the...

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  • Central to Keynesian economics is an analysis of the determinants of effective demand. 
  • The Keynesian model of effective demand consists essentially of three spending streams: consumption expenditures, investment expenditures, and government expenditures, each of which is independent...

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