KEYNESIAN REVOLUTION IN MACROECONOMICS
7This video discusses KEYNESIAN REVOLUTION IN MACROECONOMICS | MACROECONOMICS | LEARN OIKONOMIA
In this video, we explore the Keynesian revolution in macroeconomics, which transformed the way we think about government intervention in the economy. We'll cover the following topics:
The origins of Keynesian economics and its impact on social democratic thinking in Europe
The rejection of Keynesianism by the New Consensus Macroeconomics (NCM) in the 1980s
The trade-off between growth/efficiency and equality in macroeconomic policy
The relevance of Keynesian economics in the current context of the COVID-19 pandemic and emergency Keynesianism
The importance of aggregate demand in determining total output and employment in the economy
We'll also discuss some of the key figures and concepts associated with the Keynesian revolution, such as John Maynard Keynes, aggregate demand, fiscal stimulus, government intervention, and the Phillips curve. Whether you're a student of economics or just interested in learning more about this fascinating topic, this video is for you. Don't forget to like, comment, and subscribe for more content on macroeconomics and economic theory!
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