hydraulic Keynesianism

noun

A type of Keynesianism that assumes homogeneous macroeconomic aggregates and uses that assumption in relation to the Phillips curve to exploit a trade-off between inflation and unemployment, typically prioritising low unemployment at the expense of higher inflation.

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Meanings

nounhydraulic Keynesianism (uncountable)
  1. derogatoryuncountableeconomicsA type of Keynesianism that assumes homogeneous macroeconomic aggregates and uses that assumption in relation to the Phillips curve to exploit a trade-off between inflation and unemployment, typically prioritising low unemployment at the expense of higher inflation.

Origin

Coined by Alan Coddington in 1976. In reference to Alban William Phillips' hydraulic MONIAC computer, which he used for modelling the economy.

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Cite this entry
APA

hydraulic Keynesianism. (n.d.). In WatkinsX Dictionary. Retrieved November 5, 2026, from https://dictionary.watkinsx.com/word/hydraulic%20Keynesianism

MLA

“hydraulic Keynesianism.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/hydraulic%20Keynesianism. Accessed November 5, 2026.

Chicago

WatkinsX Dictionary, s.v. “hydraulic Keynesianism,” accessed November 5, 2026, https://dictionary.watkinsx.com/word/hydraulic%20Keynesianism.

Source: hydraulic Keynesianism on Wiktionary, CC BY-SA 4.0.