| Papers [1-16] of 62 :: [Page 1 of 4] | | Go to page : 1 2 3 4 —> | Search results on "KEYNESIAN ECONOMICS": |
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Canada and Keynesian Economics, 2006.
A look at why Canadians lost faith in Keynesian economics in the 1970s.
900 words (approx. 3.6 pages), 2 sources, AU$ 44.95
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Abstract
During the 1970s people in Canada (and elsewhere) lost faith in Keynesian economics, laying the groundwork for the decline of the Keynesian welfare state, and the rise of neo-liberalism. Neoliberalism favoured the unfettered economic power of private property, and the rise of neo-liberalism signaled the beginning of the globalization of the world economy. This change was therefore a dramatic and important shift, which continues to impact our world profoundly today. This essay examines the reasons for the loss of faith in Keynesian economics in the 1970s in Canada.
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Keynesian Economics: Does It Really Work?, 2002.
A comprehensive examination of Keynesian economics to determine its efficacy in real-world applications.
3,918 words (approx. 15.7 pages), 8 sources, MLA, AU$ 132.95
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Abstract
This paper reviews the scholarly literature to determine what the advocates and the critics have to say about Keynesian economics and how well it works, or does not work, followed by an analysis and a summary of the research in the conclusion.
Outline
Review and Discussion
Overview and Background
What the Advocates of Keynesian Economic Say
Analysis
Conclusion
From the Paper
"Today, economists have a number of sophisticated tools at their disposal that can be used to examine the relationship between markets for final goods and services or to markets for labor, capital, and other factors of production as well. These analysis can be applied at the level of the firm, the industry, or the entire economy. The total demand for all goods and services by all sectors of the economy determines the aggregate income in the economy. As a result, income is tied to production, and a circular relationship exists between production, income, and final demand. Further, the same can be said of the relationship between the supply of factors of production and the compensation offered, as in the case of unemployed workers who would theoretically accept work at the going wage if it were available. However, these frameworks for understanding economic demand are fairly recent innovations, and rely on the modern concepts of labor, land and capital that simply did not exist a few hundred years ago."
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Keynesian Economics, 1991.
This paper discusses the theories of John Maynard Keynes, his General Theory and the Keynesian legacy in economics, politics and intellectualism.
1,800 words (approx. 7.2 pages), 10 sources, AU$ 79.95
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From the Paper
"In 1936, John Maynard Keynes published a book entitled The General Theory of Employment, Interest, and Money. In economic and political circles, the book was an immediate success, particularly among the new breed of American economists. Not to be immodest, British Keynes wrote a letter to the philosopher George Bernard Shaw stating that, "I believe myself to be writing a book on economic theory which will largely revolutionize . . . the way the world thinks about economic problems". Keynes' theory, and the furor it continues to cause, will be the subject of this paper. The paper will begin with a background analysis of both Keynes and his General Theory. It will then focus on the Keynesian legacy in economics, politics, and intellectualism. Finally, the paper will conclude with an assessment of the General Theory within the context of the modern ... "
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Keynesian Economics, 2004.
A brief comparison of the Keynesian school to the New-Keynesian school of economics.
1,421 words (approx. 5.7 pages), 2 sources, MLA, AU$ 59.95
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Abstract
This paper discusses what distinguishes the Keynesian school from the New-Keynesian school. A summary of the schools' major theories are examined and analyzed.
From the Paper
"What did the economist John Maynard Keynes really mean when he wrote his seminal text, The General Theory of Employment, Interest and Money? Like a religious text, General Theory was written and yet has inspired more verbiage upon its supposed core philosophy than exists within the actual pages of the book itself. This text was itself a critique and a query of conventional views of Classical economics. The Classical and the Neo-classical view of economics Keynes was responding to suggested that with perfectly free competition, in the absence of government intervention, the nature of the relationship between wages and labor demand would be quite efficient and simple."
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Keynesian Economics.
This paper compares the Keynesian and the Neo-Keynesian schools and their application to the 'Price-Output Puzzle'.
1,190 words (approx. 4.8 pages), 1 source, MLA, AU$ 50.95
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Abstract
This paper explains, in contrast to the classical view that demand should be held relatively stable or static, Keynes believed that government spending was necessary to inflate production and infuse the economy with necessary dollars; the Neo-Keynesians applied neoclassical economic theories of monetary policy and the micro economy to Keynesian economics regarding the macro economy. The author defines the 'price output puzzle' as "why do not suppliers reduce prices rather than reduce supply?" This paper concludes that the major three functions of both the Keynesian and Neo-Keynesian theories, which include the consumption function, the investment function, and the liquidity preference function, should all be considered simultaneously, viewing the economy in a holistic fashion.
From the Paper
"Specifically, the first Neoclassical-Keynesian Synthesis is another way of referring to the Neo-Keynesian Revolution of the so-called IS-LM Model. The IS-LM model represents John Maynard Keynes's General Theory in the form of a system of simultaneous equations "The IS-LM model has remained one of the most formidable pieces of pedagogic machinery and, as far as back-of-the-envelope diagrammatic reasoning is concerned, one of the most efficient ever devised in economics. It is not, however, without substantial problems, both as an internally consistent model or as a representation of Keynes's theory." In other words, this Neo-Keynesian school works wonderfully in theory, but not so well in fact."
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Bush vs. Keynesian Economics, 2002.
This paper discusses the supply-side justifications of Bush?s economic plan and a rebuttal based on Keynesian theory.
1,320 words (approx. 5.3 pages), 5 sources, APA, AU$ 55.95
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Abstract
This paper explains that Keynesian economics would not be so optimistic regarding Bush?s dividend tax cut proposal primarily because of their assumption that investment spending is driven more by expectations of future profits that are difficult to forecast. The author believes that the Bush tax plan essentially agrees with Keynes regarding the important role of consumer demand in stimulating the economy. The paper points out that Keynes and Bush radically differ on which category of consumers should receive the benefits of the tax cut: Bush is clearly placing more money in the hands of the wealthy.
From the Paper
"Keynes disagreed with supply-side methods for promoting vast degrees of income inequality. Instead, shifting income from high savers to high spenders, Keynes argued, would increase investment since firms would have more reason to add increased production capacity. Keynesians advocate using "automatic stabilizers" to counteract alleged instability in the economy. Keynesians argue that progressive income taxes and welfare payments counter variations in aggregate demand. Progressive income taxes and Welfare transfer income from upper income households to lower income households. Since upper income households save more of their income and low-income households consume more of their income, these practices keep aggregate saving low and aggregate consumption high."
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Keynesian Theory and Five U.S. Economic Situations, 2004.
This paper discusses responses, based on Keynesian theory, to five proposed hypothetical fluctuations in the U.S. economy.
1,570 words (approx. 6.3 pages), 2 sources, APA, AU$ 64.95
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Abstract
This paper explains that basic Keynesian theory states that, ?in a normal economy,? there is a high level of employment, and everyone is spending salaries as usual, which means there is a circular flow of money in the economy. The author points out that, according to Keynes, if stock market prices rose sharply, this would be an indication that the economy was looking up and that consumers were willing to spend more. The paper responds that, if Congress passes an increase in income tax rates to take effect next year, according to Keynes, the effects of this measure should be salutary, if the increased funds are accrued by the federal government and utilized properly to create jobs by expanding the government programs of public works.
Table of Contents
Overview of Keynesian Theory and the Current U.S Economic Situation
Hypothetical Occurrence 1#: The stock market prices rise sharply.
Hypothetical Occurrence 2#: The Conference Board's Index of Consumer Confidence falls for the fifth straight month.
Hypothetical Occurrence 3#: The rate of capacity utilization rises.
Hypothetical Occurrence 4#: The government institutes a 10% investment tax credit retroactive to the start of the year.
Hypothetical Occurrence 5#: Congress passes an increase in income tax rates to take effect next year.
From the Paper
"Keynes stated that ?in a normal economy,? there is a high level of employment, and everyone is spending salaries as usual. This means there is a circular flow of money in the economy. Individual spending becomes part of total earnings. Total earnings become part of the total spending, generating profits. When something happens to shake consumer confidence in the economy, consumers begin to save their money. Because consumer spending is part of other consumer?s earnings, consumer?s decisions to hoard money cause retailers to spend less and to lay off employees. Responding to these difficult times, ?other consumers resort to hoarding money as well.? "
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Macro-Economic Framework, 2002.
Compares the Keynesian and the Classical economic paradigms.
1,400 words (approx. 5.6 pages), 4 sources, AU$ 66.95
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Abstract
This paper argues that the Keynesian model of macro-economics is necessitated by the inherently unstable nature of capitalism. Data is drawn from Canadian media reports from the fall of 2000 through the spring of 2001.
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Theories of Distribution, 2006.
An overview of the New Classical and the New Keynesian view of economics and long term growth.
1,955 words (approx. 7.8 pages), 9 sources, MLA, AU$ 78.95
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Abstract
This paper discusses and analyzes both the New Keynesian theory of economics and the Neo-Classical concept of economics, explaining that both approaches have some benefits and some flaws. The paper concludes that the New Keynesian theory is geared to short term solutions and does not appear to be able to handle much variation in events while the Neo-Classical concept borrows from the Keynes theory and the Classical theory and seems more prepared to handle long term issues.
From the Paper
"In the 1940s and 1950s Keynesian analysis was developed to provide good policy guidelines. However, in the 1970s, the economy went into a period of stagflation and the analysis developed in the earlier decades did not work. Younger economists declared that Keynesian economics was dead. Hi-tech forms of classical economics were resurrected as a framework to eliminate government responsibility for maintaining full employment."
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Women, Power and Politics, 2006.
A discussion of the feminist position that the neoliberal ideology that has replaced Keynesian economic structures has had the effect of marginalizing women.
1,350 words (approx. 5.4 pages), 0 sources, AU$ 66.95
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Abstract
The replacement of Keynesian economic structures with the neoliberal ideology and policy initiatives in the last decades of the 20th century has led - in the opinion of many feminists - to a modern "new gender order" within which the increasing privatization of social reproduction has increasingly marginalized women by limiting their roles in the paid workforce with the social and economic autonomy that these roles signify. This essay argues that an understanding of these processes is critical to any effort at challenging the neoliberal convergence of social reproduction in economic, social and political aspects.
From the Paper
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Macroeconomic Policy in Australia, 2003.
An analysis of the change from a Keynesian economic policy towards a microeconomic focus during the 1980's in Australia.
1,462 words (approx. 5.8 pages), 11 sources, MLA, AU$ 60.95
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Abstract
This essay analyses the economic reforms carried out during the 1980's and 1990's in Australia. The essay looks at the reasons for the changes as well as the impacts of such reforms. Finally, the essay questions whether such reforms worked to benefit the Australian economy and people. During the 1980?s and 1990?s, the institutions of economic governance changed in response to poor economic performance, globalisation, and technological developments. The major change was a shift from Keynesian economic policy to microeconomic policy. The purpose of this essay is to examine the impacts of liberal reforms and to address any continuing questions.
From the Paper
"During the 1980?s and 1990?s, there were various changes carried out. One such change was a decline in tariff protection. In 1974, the Whitlam Government announced a 25% across the board tariff cut (Quiggin, 1996), followed by the Hawke labour government further reducing tariffs to 5% over a period ending in 1992 (Quiggin, 1996). In 1993, Paul Keating effectively enacted a zero tariff campaign. Apart from several troubled sectors such as textiles and car manufacturing, the zero tariff result was achieved under the Howard government in the last years of the century (Brennan & Pincus, 2002). Following the recommendations of the Campbell and Martin Committees of Inquiry, another microeconomic reform occurred in October 1983, with the floating of the Australian dollar."
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The Keynesian Aggregate Expenditure Model, 2004.
Examines the current economic situation within a state of Keynesian equilibrium.
785 words (approx. 3.1 pages), 4 sources, MLA, AU$ 34.95
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Abstract
This paper examines two contradictory quotations regarding the same economic scenario and questions why the markets should fear a predicted economic slowdown if company profits are growing strongly. The paper presents the answer in the form of the "Keynesian Aggregate Expenditure" model, which is the generic term for several graphical models used to analyze the basic components of Keynesian economics and to identify Keynesian equilibrium as the intersection of the aggregate-expenditures line and the 45-degree line.
From the Paper
"In other words, if consumers are spending less, it is unlikely that companies will continue to spend more and thus the companies will have to let workers go to make up for the decrease in consumer demand. The Keynesian model of aggregate demand was introduced in the 1930?s as a answer to the worldwide great depression that the global economy found itself spiraling into after years of boom and financial speculation. Keynes departed from his predecessors when he ?rejected the view of Adam Smith that, left alone, a market system generally functions well,? namely that the "invisible hand? works when consumer confidence is low.? (Schenk, 1997, ?Activism?)"
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Keynesian Theory, 2002.
Explores the development of new economic models within the context of Keynesian theory.
2,900 words (approx. 11.6 pages), 4 sources, AU$ 133.95
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Abstract
This paper explores the evolution of Keynesian theory within economics from the initial model to Post Keynesians. The use of money, employment and interest rates are used to chart these changes.
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Economic Thought and Theory, 2005.
An overview of some of the main principles and policies of economics.
2,087 words (approx. 8.3 pages), 6 sources, MLA, AU$ 81.95
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Abstract
This paper examines how the study of economics focuses on how individuals, corporations, and societies choose to use scarce resources provided by nature and previous generations. It looks at how fields of economics include taxes, banking, international trade, economic theory, and comparative economic systems. Outline Microeconomics Positive and Normative Economics Laissez-Faire Command Economy Mixed Economy Laws of Supply and Demand Government Intervention Post Keynesian Economics International Economics
From the Paper
"Microeconomics is the study of economic behavior. Microeconomics focuses on what factors affect individual economic choices and how changes in these factors alter these individual economic choices. Macroeconomics considers the combined effect of individual choices on the overall performance of the economy as reflected by such measures as the nation's price level, total production, and level of employment. Macroeconomics deals with a country's overall economy including the country's input and output. It also includes the GNP (Gross National Product), which is the total value of goods and services produced in an economy in a certain period of time, usually a year."
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The Keynesian Revolution, 2002.
An explanation and critical analysis of the Keynesian revolution.
3,426 words (approx. 13.7 pages), 9 sources, MLA, AU$ 121.95
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Abstract
This paper discusses how prior to the Keynesian revolution, many economists and politicians viewed economics from a ?micro? perspective. They saw factors such as unemployment, interest rates, profit and loss as related to individual organizations and the impact of individual transactions. It looks at how in modern times, the idea of macroeconomics is much more widespread and the impact of economic endeavors is viewed as part of an economic whole, or national/global approach. It analyzes how part of the credit for this much more diverse and broad view is due to the efforts of John Maynard Keynes, through his publications and the ?Keynesian Revolution.? It shows how John Maynard Keynes was a pioneer of his time, revolutionizing economic thought and introducing the idea of macroeconomics.
Outline
Introduction
History of Economic Theory
The Keynesian Revolution: A Turning Point
Key Concepts Related to Keynesian Theory
General Ideas Related to Economic Theory
Criticisms of Keynesian Theory
Responses to Criticisms
The Keynesian Revolution Revisited
The Significance of the Revolution
Analysis and Summary of Keynesian Revolution and Criticisms of John Maynard Keynes Model for Economy
From the Paper
"Keynes felt that unemployment was instead caused by a lack of demand for a particular production or services, rather than imbalance within the labor market. This makes perfect sense to modern day economic theorists, but was a huge leap at the time proposed.
Keynes argued also that there was no reason for recessions and depressions to occur. Keynes assesses that prevention of a decline in the economy relied on maintaining a balance of income and expenditures. Critics during the 1930?s still felt adamantly that unemployment could only be explained by wage rates.
Some political theorists and economists such as Friedman and like- minded economists, argued that increasing demand for productions and services would only affect employment if the wage rates fell in accordance with falling prices. Others such as David Lilien argued that ?sectoral shifts? accounted for half of cyclical unemployment that were have been thought to be caused by shifts in demand (Galbraith)."
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