Learning journal 5 on introduction to Economics.docx - Keynesian economics is a term that describes some of the ideas of economist John Maynard

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Keynesian economics is a term that describes some of the ideas of economist John Maynard Keynes (1883–1946), a British economist who is generally considered the most influential economist of the twentieth century. The principal feature of Keynesian economics is its advocacy of government deficit spending to stimulate economic growth. Although initially attacked, the Keynesian view soon exerted significant influence on both economists and policymakers. This is because Keynesian economics offered a rationale for government intervention in the economy that had been constrained by the laissez-faire doctrines of classical economics. The classical economists rely on the consumer spending and business investment epitomizes the extra vital portions of a country’s economic growth so therefore a lot of government spending takes away valuable economic resources required by individuals and businesses hence government spending and involvement may delay a

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