Keynesian Economics
In this video, we explore the basics of Keynesian economics, a macroeconomic theory developed by the British economist John Maynard Keynes in response to the Great Depression in the 1930s. We discuss the principles and rationale behind Keynesian economics - which advocates for increased government spending and lower taxes to stimulate demand and pull an economy out of depression. Finally, we explore the criticisms of Keynesian economics and the main tool recommended by Keynesian economists to manage the economy and fight unemployment.