Keynesian

KeynesianKeynes·i·an /ˈkeɪnziən/ adjectiveadjECONOMICS

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 [countableC]

the long-running debate between monetarists and Keynesians as to the precise influence of money on the economy

—Keynesianism noun [uncountableU]

the current decline in Keynesianism