294878
Description
Mind Map by Marcus Danvers, updated more than 1 year ago
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Created by Marcus Danvers
over 10 years ago
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(6)Keynesian economics
- Government planning of the economy central: only
governments have the economic clout to correct
fluctuations in the economy
- Spending against the will by governments: when the
economy is doing badly, governments need to spend to
boost it – fiscal stimulus; when the economy is doing well,
governments need to reduce spending to stop overheating.
- Macro-economics: Macroeconomics is the branch of
economics concerned with aggregates, such as national
income, consumption, and investment (Keynes came up
with such ideas as inflation, GDP, unemployment)
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