Keynesianismus John Maynard Keynes (1883–1946) Unter Keynesianismus [keɪnz-] wird in den Wirtschaftswissenschaften ein Theoriegebäude verstanden, in dem die gesamtwirtschaftliche Nachfrage die entscheidende Größe für Produktion und Beschäftigung ist. In diesem Sinne geht der Keynesianismus auf John Maynard Keynes’ Allgemeine Theorie der Beschäftigung, des Zinses und des Geldes von 1936 zurück. Die Interpretation von Keynes’ Allgemeiner Theorie durch John R. Hicks 1937 in Form des IS-LM-Modells war Grundlage der neoklassischen Synthese, als deren bekannteste Vertreter Paul Samuelson und Franco Modigliani gelten. Keynes’ engere Schüler in Cambridge lehnten diese Syntheseversuche stets ab, Joan Robinson nannte die neokeynesianische Schule nur verächtlich „bastard keynesianism“.[1] Die entgegengesetzte postkeynesianische Schule konnte jedoch nie starken Einfluss auf die mainstream-Ökonomie gewinnen. Begriffsinhalt[Bearbeiten] Keynesianismus kann bezeichnen: Postkeynesianismus[4] Neokeynesianismus „J.M.
John Maynard Keynes John Maynard Keynes, 1st Baron Keynes,[1] CB, FBA (/ˈkeɪnz/ KAYNZ; 5 June 1883 – 21 April 1946) was a British economist whose ideas have fundamentally affected the theory and practice of modern macroeconomics, and informed the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and is widely considered to be one of the founders of modern macroeconomics and the most influential economist of the 20th century.[2][3][4][5] His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. In 1999, Time magazine included Keynes in their list of the 100 most important and influential people of the 20th century, commenting that: "His radical idea that governments should spend money they don't have may have saved capitalism Early life and education[edit] King's College, Cambridge. John Maynard Keynes was born in Cambridge, Cambridgeshire, England, to an upper-middle-class family. Career[edit]
Allgemeine Theorie der Beschäftigung, des Zinses und des Geldes John Maynard Keynes (1946) Die Allgemeine Theorie der Beschäftigung, des Zinses und des Geldes (häufig auch als Allgemeine Theorie oder General Theory (vom engl. Originaltitel The General Theory of Employment, Interest and Money) bezeichnet) wurde von dem britischen Ökonomen John Maynard Keynes verfasst. Es erschien im Februar 1936 und gilt als sein wirtschaftswissenschaftliches Hauptwerk. Das abstrakte und rein makroökonomische Werk richtet sich gegen klassische bzw. neoklassische Axiome („Postulate“), insbesondere gegen den sogenannten natürlichen Zinssatz und somit gegen das Saysche Theorem. Werk[Bearbeiten] Inhalt[Bearbeiten] Das Werk ist in sechs Bücher gegliedert und umfasst insgesamt 24 Kapitel: Erstes Buch: Einleitung 1. Rezeption[Bearbeiten] Die in der Allgemeinen Theorie enthaltenen revolutionären Gedanken wurden durch ein breites Spektrum von erklärten Anhängern wie Hicks bis zu offenen Gegnern wie Jacob Viner abgeschwächt, verfälscht und abgewertet. Kerngedanken[Bearbeiten]
Macroeconomics Circulation in macroeconomics. Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.[1][2] With microeconomics, macroeconomics is one of the two most general fields in economics. While macroeconomics is a broad field of study, there are two areas of research that are emblematic of the discipline: the attempt to understand the causes and consequences of short-run fluctuations in national income (the business cycle), and the attempt to understand the determinants of long-run economic growth (increases in national income). Basic macroeconomic concepts[edit] Output and income[edit] Unemployment[edit] Main article: Unemployment A chart using US data showing the relationship between economic growth and unemployment expressed by Okun's law. Inflation and deflation[edit]
The General Theory of Employment, Interest and Money Summary[edit] The central argument of The General Theory is that the level of employment is determined, not by the price of labour as in neoclassical economics, but by the spending of money (aggregate demand). Keynes argues that it is wrong to assume that competitive markets will, in the long run, deliver full employment or that full employment is the natural, self-righting, equilibrium state of a monetary economy. On the contrary, under-employment and under-investment are likely to be the natural state unless active measures are taken. Keynes sought to do nothing less but upend the conventional economic wisdom. "I believe myself to be writing a book on economic theory which will largely revolutionize—not I suppose, at once but in the course of the next ten years—the way the world thinks about its economic problems. Preface[edit] Keynes wrote four prefaces, to the English, German, Japanese and French editions, each with a slightly different emphasis. Book I: Introduction[edit] Chapter 8.
Opinion / Lead : New geography with old geometry The international institutional structure has remained largely static since the mid-20th century rather than evolving with the changing power realities and challenges. Reforming and restructuring the international system poses the single biggest challenge to preserving global peace, stability, and continued economic growth. A 21st century world cannot remain indefinitely saddled with 20th century institutions and rules. Power shifts are an inexorable phenomenon in history. The global power structure continually evolves. For example, it was only after the Cold War began that the Soviet Union rose as a global military power, although it failed to become a true economic power. Quirk of history The United States emerged as the sole superpower due to a quirk of history — the sudden, unexpected collapse of the Soviet Union. The fact is that there has never been a global hegemon on the lines of America. World in transition Changes indeed are already beginning to occur, but rather modestly.
2008–09 Keynesian resurgence In 2008 and 2009, there was a worldwide resurgence of interest in Keynesian economics among prominent economists and policy makers. This included discussions and implementation of economic policies in accordance with the recommendations made by John Maynard Keynes in response to the Great Depression— most especially fiscal stimulus and expansionary monetary policy.[1][2][3][4] From the end of the Great Depression until the early 1970s, Keynesian economics provided the main inspiration for economic policy makers in Western industrialized countries. The influence of Keynes's theories waned in the 1970s, due to stagflation and critiques from Milton Friedman, Robert Lucas, Jr., Friedrich Hayek and other economists who were less optimistic about the ability of interventionist government policy to positively regulate the economy. Background[edit] Competing views on macroeconomic policy[edit] Keynesian economics followed on from the Keynesian Revolution. The Keynesian ascendancy: 1941–1979[edit]
Bretton Woods system The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid-20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments. Also, there was a need to address the lack of cooperation among other countries and to prevent competitive devaluation of the currencies as well. Origins[edit] Interwar period[edit] A high level of agreement among the powerful (nations) that failed to coordinate exchange rates during the interwar period had exacerbated political tensions facilitated the decisions reached by the Bretton Woods Conference. "...
Neo-Keynesian economics Neo-Keynesian economics is a school of macroeconomic thought that was developed in the post-war period from the writings of John Maynard Keynes. A group of economists (notably John Hicks, Franco Modigliani, and Paul Samuelson), attempted to interpret and formalize Keynes' writings, and to synthesize it with the neo-classical models of economics. Their work has become known as the neo-classical synthesis, and created the models that formed the core ideas of neo-Keynesian economics. In the 1970s a series of developments occurred that shook neo-Keynesian theory. Origins[edit] John Maynard Keynes provided the framework for synthesizing a host of economic ideas present between 1900 and 1940, and that synthesis bears his name, as is generally known as Keynesian economics. These neo-Keynesians generally looked at labor contracts as sources of wage stickiness to generate equilibrium models of unemployment. Neoclassical synthesis[edit] Phillips curve[edit] New Keynesian economics[edit]