- Keynesian
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relating to the ideas of John Maynard Keynes, who believed that, in a recession, the economy can be made to grow and unemployment reduced by increasing government spending and making reductions in interest rates:
• In the Keynesian model, a fall in aggregate demand leads to a fall in real income and reduces employment.
— Keynesian noun [countable] :• the long-running debate between monetarists and Keynesians as to the precise influence of money on the economy
— Keynesianism noun [uncountable] :• the current decline in Keynesianism
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Keynesian UK US /ˈkiːnziən/ adjective ECONOMICS, GOVERNMENT► relating to the economic principles of John Maynard Keynes, especially the importance of having government programmes to encourage employment and spending: »Keynesian economics
»Past governments had followed an orthodox Keynesian approach and had borrowed more money to boost demand.
Keynesian noun [C]► »He considered himself a Keynesian.
Keynesianism noun [U]► »the economic theory known as Keynesianism
Financial and business terms. 2012.