This revision video focuses on some of the key Keynesian ideas such as the Liquidity Trap and the importance of animal spirits in shaping decisions of consumers and businesses.
Keynesians tend to focus on the active use of government fiscal policy working counter cyclically to help absorb some of the effects of external shocks and help an economy avoid a deflationary slump.
You’ve probably heard of economist John Maynard Keynes. His theories have been hugely influential. But what is Keynesianism? https://t.co/EUrFe0GopE pic.twitter.com/9nftCX6STL
— BBC Ideas💡 (@bbcideas) September 1, 2019
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