Question about keynesian economics

Reference no: EM1374460

Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the U.S. since the late 1980s?

It seems that when Ronald Reagan became president in 1980, he helped increase the GDP, and the Keynesian Economics helped to do this.

So over all, I think that John Maynard Keynes should be the one to be credited for this.
From Wikipedia - "Keynes explained that the level of output and employment in the economy was determined by aggregate demand or effective demand. In a reversal of Say's Law, Keynes in essence argued that "demand creates its own supply," up to the limit set by full employment."

I would like to know if you agree that John Maynard Keynes would be the one credited for this for these reasons, and any other info of thoughts on this topic.

Reference no: EM1374460

Questions Cloud

Question related to supply and demand : Suppose a firm has the following demand equation, Assume the company decreased the price to $2.50. Would this be beneficial? Explain. Illustrate your answer with the use of a demand schedule.

Find effect of the price of the yen in terms of dollars : Using a separate supply and demand diagram for each part, illustrate the effect of value of the yen in terms of dollars of each of the following;

Discuss the appropriate target value and the actions : Build a Balanced Scorecard for unit of the comapny for which you work. Identify the strategic objectives of the entire company and the secondary objectives for the unit.

Scenario - labor supply and demand : Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:

Question about keynesian economics : Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?

List the four types of investments : Identify the government department that compiles the statistics on unemployment. About how many business firms in the United States are proprietorships?

Question about microeconomic theories : While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board.

Macroeconomics factors : During the job interview, the Vice President understood that you had received rigorous training in managerial economics, and you were able to choose some appropriate methods to predict the market movement.

Elasticity of demand : The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.

User Account

All Pages