Post-Keynesian Economics
Post-Keynesian Economics is a school of thought that builds on the ideas of John Maynard Keynes, emphasizing the importance of demand in driving economic growth and employment. It argues that economies are inherently unstable and that markets do not always self-correct. Post-Keynesians focus on real-world issues, such as income distribution, the role of financial institutions, and uncertainty. They advocate for active government intervention to manage economic fluctuations and promote social welfare, particularly during downturns when private sector spending falters. This approach highlights the complexity of economic systems and the significance of effective fiscal and monetary policies.
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Post-Keynesian economics is a school of thought that builds on the ideas of John Maynard Keynes, emphasizing the importance of uncertainty, social factors, and the role of effective demand in driving the economy. It argues that markets are often unstable and can lead to crises, rejecting the idea that economies naturally gravitate toward full employment. Post-Keynesians advocate for active government intervention, such as fiscal policies and regulations, to promote economic stability and growth, prioritizing real-world outcomes over abstract models. This approach highlights the significance of individual behavior, history, and institutions in economic analysis.