Keynesian economics dominated economic theory and policy after World War II until the 1970s, when many advanced economies suffered both inflation and slow growth, a condition dubbed “stagflation.” ...

Keynesian economics is a theory whose premise is that aggregate demand is a primary driver of the economy and employment. Keynesian economics is an economic theory, and the basic premise is that ...

Keynesian economics comes from economist John Maynard Keynes, author of the 1936 book "The General Theory of Employment, Interest and Money." Keynes believed the government could manage demand to ...

Reviewed by Robert C. Kelly The marginal propensity to consume (MPC), or the ratio of the change in aggregate consumption compared to the change in aggregate income, is a key component of Keynesian ...