Keynesian School: Difference between revisions

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*[[File: Protect.png]] [[Protectionism]] - Protectionism is good but cant you import a bit more things?
*[[File: Protect.png]] [[Protectionism]] - Protectionism is good but cant you import a bit more things?
*[[File: Merc.png]] [[Mercantilism]] - I learned a lot from him but he's a bit too blunt when it comes to violence.
*[[File: Merc.png]] [[Mercantilism]] - I learned a lot from him but he's a bit too blunt when it comes to violence.
*[[File: corptism.png]] [[Corporatism]]- I took many ideas from you but your idea of abolishing democracy is preposterous.
*[[File: corptism.png]] [[Corporatism]] - I took many ideas from you but your idea of abolishing democracy is preposterous.
*[[File: Synd.png]] [[Syndicalism]]- Stop complaining about wages already! Go on welfare you lazy, good-for-nothing commies!
*[[File: Synd.png]] [[Syndicalism]] - Stop complaining about wages already! Go on welfare you lazy, good-for-nothing commies!


=== Enemies===
=== Enemies===

Revision as of 04:02, 4 August 2021

Keynesianism is an economically centrist ideology, whose general economic theory was pretty popular back in the day and still is in most of the western countries and Japan. He believes that the state should intervene in the economy to level out the economic cycle so businesses can make long term investments and allow for long term growth. He plans to do this by lowering taxes, lowering interest rates and increasing spending when the economy busts, but also by cutting spending, raising interest rates and raising taxes during economic booms.

History

TBA

Variants

Neo-Keynesianism

Neo-Keynesianism is an economically centrist ideology, whose general economic theory derived from the Neo-Classical economic thought in a mix with Keynesian economics.

A group of economists sought to synthesize the work of Keynes with numerous aspects of the neoclassical economic orthodoxy, this came to be known as the Neoclassical synthesis. This framework largely retained neoclassical analysis with regards to microeconomics and analysis on the level of the individual and/or the firm, while incorporating Keynesian analysis with regards to macroeconomics. This school of thought was dominant from the 1950s to the 1970s. Neo-Keynesianism fell out of favor due to the stagflation of the 1970s and the work of monetarists such as Milton Friedman.

The two most prominent economic models with roots in Neo-Keynesian thought are:

  • IS-LM model: It relates aggregate demand and employment to three exogenous quantities, i.e. the amount of money in circulation, the government budget and the state of business expectations. It became really popular as a way to analyze the effect demand shocks in the overall economy
  • Phillips curve : This curve was an empirical view of analyzing, to get to the conclusion, that more inflation would cause a lower employment rate.

Post-Keynesianism

Post-Keynesianism is a more left-wing current of economic thought developed from the 1930s in England and the United States, where it is currently most present, which presents itself as the closest current to Keynes' ideas. It takes the most radical views of Keynes, who throughout his life has moved further and further away from neoclassicals. As such Post-Keynesianism takes a position radically opposed to that of neoclassical economics by emphasizing the following points:

  • A realistic and non-instrumentalist epistemology. The assumptions made by post-Keynesians must correspond to reality; they do not have a simple predictive function.
  • A holistic and non-individualistic approach, for example the possibility of an autonomous macroeconomics compared to the microeconomics, and an area of ​​analysis and reflection specific to macroeconomics.
  • Giving up on the assumptions of absolute or even limited rationality of agents.
  • Considering the problem of scarcity in the economy as secondary; and placing the problems of production, reproduction, growth and circulationat the center of the analysis.
  • Favorising state interventionism over the free market.
  • Inflation is analyzed from a cost push perspective. Money is endogenous, wages in monetary terms are determined by oligopolies and unions, and the stock of capital is homogeneous.

New Keynesianism

TBA

Tenets

TBA

Personality

Keynesianism is the sort of guy who you know you can ask for help on homework, but you can't really remember ever having a proper conversation. He can become a little obsessive when it comes to refining mathematical models to prove his point, and this can make him seem disconnected. 

Stylistic Notes

Keynesianism has multiple jokes about him which are displayed in his behaviours:

  • He likes to break other people's windows
  • Likes to bury money in ditches to dig it up again
  • Big Consoomer
  • Likes to have gay sex with twinks a lot

How to Draw

Coat of Arms of Keynesian School

The ball design is based of the Coat of Arms of John Maynard Keynes (Specifically the Escutcheon a.k.a. the Shield)

  1. Draw a ball.
  2. Fill it with blue.
  3. Draw three grey diagonal lines from top left to bottom right.
  4. Draw two fleur-de-lis symbols in bottom left and top right with the same color.
  5. Draw the eyes and you're done.
Color Name HEX RGB
Blue #105BB0 16, 91, 176
Grey #B8C1CD 184, 193, 205


Relationships

Friends

Frenemies

  • Hayekism - I see it took a detour down the road to serfdom...
  • Neoliberalism - I like you depending on your mood, my dear brother. Though I'm still a bit pissed at how much you tried to undo my work.
  • Protectionism - Protectionism is good but cant you import a bit more things?
  • Mercantilism - I learned a lot from him but he's a bit too blunt when it comes to violence.
  • Corporatism - I took many ideas from you but your idea of abolishing democracy is preposterous.
  • Syndicalism - Stop complaining about wages already! Go on welfare you lazy, good-for-nothing commies!

Enemies

  • Communism - I am not a communist, on the contrary, my methods are the only way to stop communists!.
  • Libertarianism - This simpleton doesn't like it when the machine goes BRRRR. And for the last time, I'm not a goddamn socialist just because I like government spending.
  • Minarchism - The country is in debt and you bought war bonds but I still got payed sucker!
  • Anarcho-Capitalism - Oh Christ... They're way more retarded than those dorks.
  • Fiscal Conservatism - The machine will go BRRRR whether you like it or not!
  • Austrolibertarianism - Why cut spending after WW2?

Further Information

Literature

Wikipedia

People

WIP

Videos

Gallery

Template:Centrist Template:Welfare

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