Keynesizmo

Keynesizmo, also known as Keynesian economics, is a theory in macroeconomics advanced by the British economist John Maynard Keynes in his seminal work *The General Theory of Employment, Interest, and Money* (1936). The theory emerged in response to the economic challenges of the Great Depression, proposing that government intervention could stabilize economies during periods of high unemployment and recession.

At its core, Keynesizmo argues that aggregate demand—comprising consumption, investment, government spending, and net exports—drives economic activity. Unlike classical economic thought, which assumed markets would self-correct through flexible wages and prices, Keynes emphasized that demand deficiencies could lead to prolonged unemployment. His solution involved fiscal policy measures, such as increased government spending or tax cuts, to stimulate demand and restore full employment.

Keynesizmo also introduced the concept of the multiplier effect, where initial government spending generates additional economic activity through increased consumption and investment. This idea supported the idea that deficits during recessions could be justified if they led to long-term growth. Additionally, Keynes argued for active monetary policy, including lower interest rates and expanded money supply, to encourage borrowing and investment.

The theory gained prominence in the mid-20th century, shaping policies like the New Deal in the United States and post-war economic management in many countries. However, critics argue that excessive government intervention could lead to inflation, debt, or inefficiencies. Over time, Keynesizmo evolved into modern Keynesianism, incorporating elements of supply-side economics and monetarism, though its foundational principles remain influential in macroeconomic policy debates.