Keynes, John Maynard

Morris Altman

doi:10.1002/9781118430873.est0196

Keynes, John Maynard

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

Keynes's background is outlined as it relates to his scholarly and public policy contributions. The evolution of his thought is discussed, leading up to his penultimate contributions in his General Theory and his invention of modern macro‐economics. His fact‐based understanding of macro‐economic market failure and persistent involuntary unemployment is contrasted with the classical perspective that market forces restore full employment quickly and efficiently. Modeling differences across Keynesian economists are also discussed.

Original language	English
Title of host publication	The Wiley-Blackwell Encyclopedia of Social Theory
Editors	Bryan S Turner
Publisher	Wiley
Pages	1-12
Number of pages	13
ISBN (Electronic)	9781118430873
ISBN (Print)	9781118430866
DOIs	https://doi.org/10.1002/9781118430873.est0196
Publication status	Published - 4 Dec 2017

Keywords

animal spirits
fiscal policy
involuntary unemployment
Keynes, John Maynard
monetary policy

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1002/9781118430873.est0196

http://doi.wiley.com/10.1002/9781118430873.est0196

Cite this

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KW - involuntary unemployment

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KW - monetary policy

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Keynes, John Maynard

Abstract

Keywords

UN SDGs

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