Keynesian

comparative more Keynesian · superlative most Keynesian

1. economicsOf or pertaining to an economic theory based on the ideas of John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s, and extensively extended by a large body of followers before and after his death in 1946.

   That’s why supply and demand get out of balance in a slump, according to the so-called New Keynesian model that Fed officials and other policy makers lean on.

   2020 May 27, Matthew Boesler, Reade Pickert, “Salaries Get Chopped for Many Americans Who Manage to Keep Jobs”, in Bloomberg News

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   Long story short, they settled on a plan to challenge the Keynesian orthodoxy of the time: that governments existed to do things for people, that markets left entirely to their own devices tended to eat the poor, and that the occasional judicious application of public money to shared problems was not, in fact, the first step on the road to Stalinist perdition — a philosophy so radical it had just finished winning World War II.

   2026 June 3, John Birmingham, “Neoliberalism ate the world. Enter: Pauline Hanson”, in Crikey

plural Keynesians

1. economicsA proponent of Keynesian economic doctrine.

   We Are All Keynesians Now [title]

   1965 December 31, Milton Friedman, “We Are All Keynesians Now”, in Time, archived from the original on 11 Feb 2007

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   If I'd believed in all their policies, [...] I would've been a Keynesian and a Friedmanite, a grammar school preserver and destroyer, a nationalisation freak and a privatisation maniac; but above all, I would have been a stark-staring raving schizophrenic! (laugh track).

   1980 March 3, Antony Jay, Jonathan Lynn, “The Whisky Priest”, in Yes, Minister, season 3, episode 20, spoken by Humphrey Appleby (Nigel Hawthorne)

   Since the 1960's the Keynesians have also come under heavy criticism by a group of economists known as Neo-Keynesians. The main contention of the Neo-Keynesians is that the Keynesians have no adequate theory on inflation.

   1981, Thomas Katsaros, John Teluk, Capitalism: A Cooperative Venture, University Press of America, page 22