Keynesianismen

Keynesianismen is a school of macroeconomic thought named after the British economist John Maynard Keynes. It emerged during the Great Depression of the 1930s, challenging classical economic theories that suggested markets would naturally self-correct. Keynesian economics emphasizes the role of aggregate demand in determining the overall level of economic output and employment.

A central tenet of Keynesianism is that economies can get stuck in periods of low demand, leading to unemployment and underutilization of resources. Unlike classical economists who believed that prices and wages would adjust to restore full employment, Keynes argued that such adjustments could be slow and insufficient. He proposed that government intervention, particularly through fiscal policy, could be necessary to stimulate demand and stabilize the economy.

Fiscal policy, in the Keynesian framework, involves the government adjusting its spending and taxation levels. During economic downturns, Keynesians advocate for increased government spending or tax cuts to boost aggregate demand. This can involve investments in infrastructure, social programs, or direct stimulus payments to individuals. Conversely, during periods of overheating and inflation, Keynesians suggest reducing government spending or increasing taxes to cool down the economy.

Monetary policy, which involves managing the money supply and interest rates, is also considered a tool within Keynesian economics, though fiscal policy is often seen as more direct and effective, especially in deep recessions. The influence of Keynesianism has been significant, shaping economic policy in many countries, particularly in the post-World War II era. Debates continue regarding the effectiveness and potential drawbacks of government intervention as advocated by Keynesian principles.