Keynesianadj/ˈkeɪnziən/

• 1

  economicssciencesOf or pertaining to an economic theory based on the ideas of John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s, and extensively extended by a large body of followers before and after his death in 1946.

  • That’s why supply and demand get out of balance in a slump, according to the so-called New Keynesian model that Fed officials and other policy makers lean on.
  • Long story short, they settled on a plan to challenge the Keynesian orthodoxy of the time: that governments existed to do things for people, that markets left entirely to their own devices tended to eat the poor, and that the occasional judicious application of public money to shared problems was not, in fact, the first step on the road to Stalinist perdition — a philosophy so radical it had just finished winning World War II.

Keynesiannoun/ˈkeɪnziən/

• 1

  economicssciencesA proponent of Keynesian economic doctrine.

  • We Are All Keynesians Now [title]
  • If I'd believed in all their policies, [...] I would've been a Keynesian and a Friedmanite, a grammar school preserver and destroyer, a nationalisation freak and a privatisation maniac; but above all, I would have been a stark-staring raving schizophrenic! (laugh track).