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Keynesian Theory of Government Intervention in the Economy

Year: 2024

Type: conference-paper

Abstract: The Keynesian theory, developed by British economist John Maynard Keynes, revolutionized economic thought in the 20th century by emphasizing the role of government intervention in managing economic fluctuations. In contrast to classical economic theories that advocated for minimal government involvement, Keynesian economics argues that active fiscal and monetary policies are essential for stabilizing economies, especially during periods of economic downturn. This paper explores the fundamental principles of Keynesian economics, the role of government intervention, and the theory’s implications for contemporary economic policy.

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.14550516

Author: Soy Marina Petrovna, Yakubova Eleonora Nailevna

Institution: Jizzakh branch of the National University of Uzbekistan named after Mirzo Ulugbek

Language: English

Topic: Economic Theory and Policy

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W6949200212

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