Re:Paul Krugman: The austerity delusion
by Mikeb85 on Wednesday April 29, 2015 @02:18PM
(#9460488)
Not true whatsoever.
Here's the definition as stated by Wikipedia, which I find to be pretty accurate and concise:
> Keynesian economics is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy).
This contrasts with the earlier theory that production creates demand.
And while Keynesian economics does suggest that the government should intervene in the economy, it's far from a command economy.
Here's the definition as stated by Wikipedia, which I find to be pretty accurate and concise:
> Keynesian economics is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy).
This contrasts with the earlier theory that production creates demand.
And while Keynesian economics does suggest that the government should intervene in the economy, it's far from a command economy.