Confirmed users, content_moderator, Interface administrators, Moderators, Administrators, trustededitor
6,855
edits
Keynesian School: Difference between revisions
→Literature
m (→Relationships) |
|||
| (12 intermediate revisions by 9 users not shown) | |||
Line 40:
|theorists=
[[File:Cball-Commonwealth.png]] '''Commonwealth Realm''' {{Collapse|
*[[File:Keynes.png]] [[Social Liberalism|John Maynard Keynes]] (1883-1946) [[File:Cball-UK.png]] {{PBW|UKball|UK}}
*[[File:ClementAttlee.png]] [[Democratic Socialism|Clement Attlee]] (1883-1967) [[File:Cball-UK.png]] {{PBW|UKball|UK}}
*[[File:OswaldMosley.png]] [[British Fascism|Oswald Mosley]] (1896-1980) [[File:Cball-UK.png]] {{PBW|UKball|UK}}
*[[File:Brownism.png]] [[Third Way|Gordon Brown]] (1951-) [[File:Cball-UK.png]] {{PBW|UKball|UK}}
*[[File:ALP.png]] [[Social Democracy|Kevin Rudd]] (1957-) [[File:Cball-Australia.png]] {{PBW|Australiaball|Australia}}
}}
[[File:PanAmer.png]] '''Americas''' {{Collapse|
*[[File:FDRismF.png]] [[Social Liberalism|Franklin D. Roosevelt]] (1882-1945) [[File:Cball-US.png]] {{PBW|USAball|USA
*[[File:Truman.png]] [[Social Liberalism|Harry S. Truman]] (1884-1972) [[File:Cball-US.png]] {{PBW|USAball|USA
*[[File:Long.png]] [[Longism|Huey Long]] (1893-1935) [[File:Cball-US.png]] {{PBW|USAball|USA
*[[File:JuanPeron.png]] [[Peronism|Juan Perón]] (1895-1974) [[File:Argentina.png]] {{PBW|Argentinaball|Argentina}}
*[[File:Lyndon B. Johnson.png]] [[Social Liberalism|Lyndon B. Johnson]] (1908-1973) [[File:Cball-US.png]] {{PBW|USAball|USA
*[[File:Friedman.png]] [[Chicago School|Milton Friedman]] (1912-2006) [[File:Cball-US.png]] USA (Later On)
*[[File:NuKeynesPix.png]] [[Social Liberalism|Paul Samuelson]] (1915-2009) [[File:Cball-US.png]] {{PBW|USAball|USA}}
*[[File:Leigh.png]] [[Authoritarian Conservatism|Gustavo Leigh]] (1920-1999) [[File:Cball-Chile.png]] {{PBW|Chileball|Chile}}
*[[File:Auth3Way.png]] [[Social Authoritarianism|Carlos Andrés Pérez]] (1922-2010) [[File:Cball-Venezuela.png]] {{PBW|Venezuelaball|Venezuela}}
*[[File:BrazilPRONA.png]] [[Welfare Chauvinism|Enéas Carneiro]] (1938-2007) [[File:Cball-Brazil.png]] {{PBW|Brazilball|Brazil
*[[File:NuKeynesPix.png]] [[Social Georgism|Joseph Stiglitz]] (1943-) [[File:Cball-US.png]] {{PBW|USAball|USA}}
*[[File:Lula.png]] [[Socialism of the 21st Century|Luiz Inácio Lula da Silva]] (1945-) [[File:Cball-Brazil.png]] {{PBW|Brazilball|Brazil}}
*[[File:Newkeynes.png]] [[Neoliberalism|Paulo Guedes]] (1949-) [[File:Cball-Brazil.png]] {{PBW|Brazilball|Brazil}}
*[[File:Newkeynes.png]] [[Social Liberalism|Paul Krugman]] (1953-) [[File:Cball-US.png]] {{PBW|USAball|USA}}
*[[File:Newkeynes.png]] [[Monetarism|Ben Bernanke]] (1953-) [[File:Cball-US.png]] {{PBW|USAball|USA}}
*[[File:Newkeynes.png]] [[Neoliberalism|Lawrence Summers]] (1954-) [[File:Cball-US.png]] {{PBW|USAball|USA}}
*[[File:Klep.png]] [[Kleptocracy|Rod Blagojevich]] (1956-) [[File:Cball-US.png]] {{PBW|USAball|USA
*[[File:Obamium.png]] [[Third Way|Barack Obama]] (1961-) [[File:Cball-US.png]] {{PBW|USAball|USA
*[[File:Postkeynes.png]] [[Left-Wing Populism|Stephanie Kelton]] (1969-) [[File:Cball-US.png]] {{PBW|USAball|USA}}
}}
[[File:Cball-EU.png]] '''Europe''' {{Collapse|
*[[File:SwedenSocDem.png]] [[Guild Socialism|Ernst Wigforss]] (1881-1977) [[File:Cball-Sweden.png]] {{PBW|Swedenball|Sweden}}
*[[File:Mussolini.png]] [[Fascism|Benito Mussolini]] (1883-1945) [[File:Cball-King-Italy.png]] {{PBW|Italyball|Italy}}
*[[File:SwedenSocDem.png]] [[Nordic Model|Per Albin Hansson]] (1885-1946) [[File:Cball-Sweden.png]] {{PBW|Swedenball|Sweden}}
*[[File:
*[[File:Kalecki.png]] [[Neo-Marxism|Michał Kalecki]] (1899-1970) [[File:Cball-Poland.png]] {{PBW|Polandball|Poland}}
*[[File:Popolar.png]] [[Paternalistic Conservatism|Aldo Moro]] (1916-1978) [[File:Cball-Italy.png]] {{PBW|Italyball|Italy}}
*[[File:
*[[File:GerSPD.png]] [[Social Democracy|Helmut Schmidt]] (1918-2015) [[File:Cball-Germany.png]] {{PBW|Germanyball|Germany}}
*[[File:OlofPalme.png]] [[Left-Wing Populism|Olof Palme]] (1927-1986) [[File:Cball-Sweden.png]] {{PBW|Swedenball|Sweden}}
*[[File:Balcerowicz.png]] [[Neoliberalism|Leszek Balcerowicz]] (1947-) [[File:Cball-Poland.png]] {{PBW|Polandball|Poland}}
*[[File:Socdem.png]] [[Social Democracy|Thomas Piketty]] (1971-) [[File:Cball-France.png]] {{PBW|Franceball|France}}
}}
[[File:PanAsian.png]] '''Asia''' {{Collapse|
*[[File:ParkChungHee.png]] [[Ilminism|Park Chung-hee]] (1917-1979) [[File:Cball-South Korea.png]] {{PBW|South Koreaball|South Korea}}
*[[File:ZhuRongji.png]] [[Dengism|Zhu Rongji]] (1928-) [[File:Cball-China.png]] {{PBW|Chinaball|China}}
*[[File:Hujintao.png]] [[Dengism|Hu Jintao]] (1942-) [[File:Cball-China.png]] {{PBW|Chinaball|China}}
*[[File:Thaksin.png]] [[Social Authoritarianism|Thaksin Shinawatra]] (1949-) [[File:Thailand.png]] {{PBW|Thailandball|Thailand}}
*[[File:BoXilai.png]] [[Dengism|Bo]] [[Social Authoritarianism|Xilai]] (1949-) [[File:Cball-China.png]] {{PBW|Chinaball|China}}
*[[File:NajibRazak.png]] [[Neoliberalism|Najib Razak]] (1953-) [[File:Cball-Malaysia.png]] {{PBW|Malaysiaball|Malaysia}}
*[[File:DemocraticPartyKorea.png]] [[Social Liberalism|Moon Jae-in]] (1953-) [[File:Cball-South Korea.png]] {{PBW|South Koreaball|South Korea}}
*[[File:ShinzoAbe.png]] [[National Conservatism|Shinzo Abe]] (1954-2022) [[File:Cball-Japan.png]] {{PBW|Japanball|Japan}}
*[[File:Newkeynes.png]] [[Reactionary Liberalism|Yōichi Takahashi]] (1955-) [[File:Cball-Japan.png]] {{PBW|Japanball|Japan}}
*[[File:Kochikai.png]] [[Paternalistic Conservatism|Fumio Kishida]] (1957-) [[File:Cball-Japan.png]] {{PBW|Japanball|Japan}}
}}
|examples=<div style="overflow:auto; height:auto; max-height:200px; background:transparent;">
Line 112:
*[[File:Eugen.png]] [[Eugenicism]]
*[[File:Fem.png]] [[Feminism]]
*[[File:Gay.png]] [[:Category:LGBT|Gay Rights Advocacy]]
*[[File:Hayek.png]] [[Hayekism]] (Sympathetic)
Line 128 ⟶ 127:
However, as time went on, Keynes became more critical of some aspects of the Zionist movement and British policies in Palestine. He raised concerns about the potential impact of Jewish immigration on the Arab population and the stability of the region. His views on the matter were nuanced and evolved in response to changing political and social dynamics in the Middle East.</ref>
}}
|school =
[[File:NuKeynesPix.png]] '''Neo-Keynesianism''' {{Collapse|
*[[File:Neoclassical.png]] [[Chicago School|Neo-Classical Economics]]
Line 178 ⟶ 177:
*[[w:IS%E2%80%93LM_model|IS-LM model]]: It relates aggregate demand and employment to three exogenous quantities, i.e. the amount of money in circulation, the government budget, and the state of business expectations. It became really popular as a way to analyze the effect demand shocks on the overall economy
*[[w:Phillips_curve|Phillips curve]] : This curve was an empirical view of analyzing, to get to the conclusion, that more inflation would cause a lower employment rate.
===[[File:Postkeynes.png]] Post-Keynesian Economic Theory===▼
The '''Post-Keynesian Economic Theory''' is a more left-wing current of economic thought developed from the 1930s in England and the United States, where it is currently most present, which presents itself as the closest current to Keynes' ideas. It takes the most radical views of Keynes, who throughout his life has moved further and further away from [[File:Neoclassical.png]] neoclassicals. As such, the Post-Keynesian economic theory takes a position radically opposed to that of neoclassical economics by emphasizing the following points:▼
* A realistic and non-instrumentalist epistemology. The assumptions made by post-Keynesians must correspond to reality; they do not have a simple predictive function.▼
* A holistic and non-individualistic approach, for example, the possibility of an autonomous macroeconomics compared to the microeconomics, and an area of analysis and reflection specific to macroeconomics.▼
* Giving up on the assumptions of absolute or even limited rationality of agents.▼
* Considering the problem of scarcity in the economy as secondary; and placing the problems of production, reproduction, growth, and circulation at the center of the analysis.▼
* Flavoring state interventionism over the free market.▼
* Inflation is analyzed from a cost-push perspective. Money is endogenous, wages in monetary terms are determined by oligopolies and unions, and the stock of capital is homogeneous.▼
===[[File:Newkeynes.png]] New Keynesian Economic Theory===
Line 202 ⟶ 191:
* '''New Keynesian DSGE model:''' Enterprises and households are assumed to have rational expectation, but prices are set by monopolistically competitive firms and can't shift quickly or without cost.
* '''New Keynesian Phillips Curve:''' Like an expectations-augmented Phillips curve, it implies that the trade-off between unemployment and inflation is only applicable in the short run.
▲===[[File:Postkeynes.png]] Post-Keynesian Economic Theory===
▲The '''Post-Keynesian Economic Theory''' is a more left-wing current of economic thought developed from the 1930s in England and the United States, where it is currently most present, which presents itself as the closest current to Keynes' ideas. It takes the most radical views of Keynes, who throughout his life has moved further and further away from [[File:Neoclassical.png]] neoclassicals. As such, the Post-Keynesian economic theory takes a position radically opposed to that of neoclassical economics by emphasizing the following points:
▲* A realistic and non-instrumentalist epistemology. The assumptions made by post-Keynesians must correspond to reality; they do not have a simple predictive function.
▲* A holistic and non-individualistic approach, for example, the possibility of an autonomous macroeconomics compared to the microeconomics, and an area of analysis and reflection specific to macroeconomics.
▲* Giving up on the assumptions of absolute or even limited rationality of agents.
▲* Considering the problem of scarcity in the economy as secondary; and placing the problems of production, reproduction, growth, and circulation at the center of the analysis.
▲* Flavoring state interventionism over the free market.
▲* Inflation is analyzed from a cost-push perspective. Money is endogenous, wages in monetary terms are determined by oligopolies and unions, and the stock of capital is homogeneous.
===[[File:MilKeynesf.png]] Military Keynesianism===
WIP
===[[File:Cball-Sweden.png]] Stockholm School===
WIP
==Tenets==
Line 223 ⟶ 228:
*He likes to break other people's windows.
*Likes to
*Big consoomer
*<s>Likes to have gay sex with twinks.</s>
Line 247 ⟶ 252:
==Relationships==
===Friends===
*[[File:Regulationism.png]] [[Regulationism]] - I'm literally the same as him, but with more specific end goals and more precise rhetoric from some British chap named John!▼
*[[File:Bankocracy.png]] [[Financialism]] - We need a strong central bank.▼
*[[File:Indust.png]] [[Industrialism]] - I helped him grow after WW2.▼
*[[File:Soclib.png]] [[Social Liberalism]] - He's a good student who tends to agree with me on civil liberties. Just would like to see him go a bit further when it comes to economic interventionism.
*[[File:Patcon.png]] [[Paternalistic Conservatism]] - You listened to my arguments and not [[File:Fiscon.png]] [[Fiscal Conservatism|his]], smart move.▼
*[[File:Socdem.png]] [[Social Democracy]] - I justify for him whatever he is doing.
▲*[[File:Patcon.png]] [[Paternalistic Conservatism]] - You listened to my arguments and not [[File:Fiscon.png]] [[Fiscal Conservatism|his]], smart move.
▲*[[File:Indust.png]] [[Industrialism]] - I helped him grow after WW2.
*[[File:Lpop.png]] [[Left-Wing Populism]] - Yes! We can afford everything, definitely! <s>Those corporate bailouts are necessary though</s>
▲*[[File:Regulationism.png]] [[Regulationism]] - I'm literally the same as him, but with more specific end goals and more precise rhetoric from some British chap named John!
*[[File:Neoprog.png]] [[Third_Way#Neoprogressive_Hawk|Neoprogressive Hawkism]] - Couldn't care less for social progress but the welfare and military spending are nice▼
*[[File:necon.png]] [[Neoconservatism]] - Military spending is a great way to help the economy!
*[[File:Libhawk.png]] [[Neoconservatism|Liberal Hawkism]] - A militarist social liberal? Even better.
▲*[[File:Neoprog.png]] [[Third_Way#Neoprogressive_Hawk|Neoprogressive Hawkism]] - Couldn't care less for social progress but the welfare and military spending are nice
*[[File:MilSoc.png]] [[Social_Democracy#Militant_Social_Democracy|Militant Social Democracy]] - A militarist social democrat? How do these consistently become better and better?
▲*[[File:Bankocracy.png]] [[Financialism]] - We need a strong central bank.
*[[File:Georgist.png]] [[Georgism]] - Both Stiglitz and Krugman like your idea of a Land Value Tax. Not sure it should replace all other taxes though.
===Frenemies===
*[[File:NuKeynesPix.png]] [[Keynesian School#Neo-Keynesian Economic Theory|Neo
*[[File:Hayek.png]] [[Hayekism]] - ''"In the long term"'' we'll all be dead.▼
▲*[[File:NuKeynesPix.png]] [[Keynesian School#Neo-Keynesian Economic Theory|Neo Keynesian Economics]] - You are my son and I love you but quite hanging out with those [[File:Neoclassical.png]] [[Classical Liberalism|neoclassicals]]!
*[[File:Demsocstar.png]] [[Democratic Socialism]] - Normally a good ally, can get carried away at times though. ▼
*[[File:Neoliberal-icon.png]] [[Neoliberalism]] - I like you depending on your mood, my dear son. <s>Though I'm still a bit pissed at how much you tried to undo my work even though I became a failure over time</s>
*[[File:Chilib.png]] [[Chicago School]] - While I mostly disagree with him on Fiscal vs Monetary Policy, we both support Central Banking, Fiat Currency and Capitalism. Just wish you'd open up to Government Spending more...▼
*[[File:Socliber.png]] [[Social Libertarianism]] - I don't think you understand the business cycle, but at least you're fine with the FED.▼
*[[File:Protect.png]] [[Protectionism]] - Protectionism is good but cant you import a bit more things?
*[[File:Merc.png]] [[Mercantilism]] - I learned a lot from him, but he's a bit too blunt when it comes to violence.
*[[File:corptism.png]] [[Corporatism]] - I took many ideas from you, but your idea of abolishing democracy is preposterous.
▲*[[File:Demsocstar.png]] [[Democratic Socialism]] - Normally a good ally, can get carried away at times though.
*[[File:Synd.png]] [[Syndicalism]] - Stop complaining about wages already! Go on welfare you lazy, good-for-nothing commies! <s>You know what? That was a bit too harsh of me,</s> I'll let your unions strike, as long as you are not being violent.
▲*[[File:Socliber.png]] [[Social Libertarianism]] - I don't think you understand the business cycle, but at least you're fine with the FED.
▲*[[File:Chilib.png]] [[Chicago School]] - While I mostly disagree with him on Fiscal vs Monetary Policy, we both support Central Banking, Fiat Currency and Capitalism. Just wish you'd open up to Government Spending more...
===Enemies===
*[[File:Austrobert.png]] [[Austrian School]] - Goldbug Detected, Opinion Invalid.▼
*[[File:
*[[File:Ancapf.png]] [[Anarcho-Capitalism]] - Oh Christ...
*[[File:Fiscon.png]] [[Fiscal Conservatism]] - The machine will go BRRRR whether you like it or not!▼
*[[File:Commie.png]] [[Communism (Disambiguation)|Communism]] - I am not a communist. On the contrary, my methods are the only way to stop communists!
*[[File:Bernst.png]] [[Reformist Marxism]] - My old rival in the [[File:UKLab.png]] Labour party!
▲*[[File:Libertarian.png]] [[Libertarianism]] - This simpleton doesn't like it when the machine goes BRRRR. And for the last time, I'm not a goddamn socialist just because I like government spending. Please understand already that socialism is not about the government doing things.
▲*[[File:Fiscon.png]] [[Fiscal Conservatism]] - The machine will go BRRRR whether you like it or not!
▲*[[File:Austrobert.png]] [[Austrian School]] - Goldbug Detected, Opinion Invalid.
* [[File:Illeg.png]] [[Illegalism]] - Anti-economy, hates state monopolies and order? Nightmare!
Line 304 ⟶ 307:
Bruno-Radical-70s.png|Credit: [[Community:Bruno-radical|bruno-radical]]
Legend2T-9x9.png|Credit: [[File:Colmin.png]][[User:TheLegend2T|TheLegend2T]], [https://www.reddit.com/r/Polcompballanarchy/comments/mqcr2d/the_9x9_compass_of_famous_people/ Source]
Stretchedcappie.png
</gallery>
Line 309 ⟶ 313:
===Literature===
*[https://www.files.ethz.ch/isn/125515/1366_KeynesTheoryofEmployment.pdf The General Theory of Employment, Interest and Money] by [[File:Keynes.png]] [[Social Liberalism|John Maynard Keynes]]
*[https://www.hetwebsite.net/het/texts/keynes/keynes1926laissezfaire.htm The End of Laissez-Faire (1926)] by [[File:Keynes.png]] [[Social Liberalism|John Maynard Keynes]]
*[https://web.archive.org/web/20221102091549/https://static.stevereads.com/papers_to_read/krugman--the_return_of_depression_economics.pdf The Return of Depression Economics and the Crisis of 2008] by [[File:Newkeynes.png]] [[Social Liberalism|Paul Krugman]]
*[https://www.amazon.com/dp/1629100668/ The Economic Consequences of the Peace] by [[File:Keynes.png]] [[Social Liberalism|John Maynard Keynes]]
Line 330 ⟶ 335:
====People====
*[[File:Keynes.png]] [[w:John_Maynard_Keynes|John Maynard Keynes]]
*[[File:Postkeynes.png]] [[w:Hyman_Minsky|Hyman Minsky]]▼
*[[File:Postkeynes.png]] [[w:Joan_Robinson|Joan Robinson]]▼
*[[File:Postkeynes.png]] [[w:Michał_Kalecki|Michał Kalecki]] [[File:Neomarx.png]]▼
*[[File:NuKeynesPix.png]] [[w:Lawrence Klein|Lawrence Klein]]
*[[File:NuKeynesPix.png]] [[w:Joseph Stiglitz|Joseph Stiglitz]] [[File:Georgist.png]]
*[[File:NuKeynesPix.png]] [[w:Paul Samuelson|Paul Samuelson]]
*[[File:NuKeynesPix.png]] [[w:James Tobin|James Tobin]]
*[[File:Newkeynes.png]] [[w:Paul Krugman|Paul Krugman]]▼
*[[File:Postkeynes.png]] [[w:John Kenneth Galbraith|John Kenneth Galbraith]]▼
*[[File:NuKeynesPix.png]] [[w:John Hicks|John Hicks]]
▲*[[File:Newkeynes.png]] [[w:Paul Krugman|Paul Krugman]]
*[[File:Newkeynes.png]] [[w:Ben Bernanke|Ben Bernanke]]
▲*[[File:Postkeynes.png]] [[w:Hyman_Minsky|Hyman Minsky]]
▲*[[File:Postkeynes.png]] [[w:Joan_Robinson|Joan Robinson]]
▲*[[File:Postkeynes.png]] [[w:Michał_Kalecki|Michał Kalecki]] [[File:Neomarx.png]]
▲*[[File:Postkeynes.png]] [[w:John Kenneth Galbraith|John Kenneth Galbraith]]
===Videos===
| |||