Keynesianism - Reflexions

Keynesianism

An economic system inspired by the English economist John Maynard Keynes based on state stimulated economics in the 1930s and known under the name of New Deal. The central idea of this school of economics is that the market left to its own devices will not guarantee optimal growth and a natural balance. The state has an important role to play, particularly in reflationary policies and should invest in the economy by various means including nationalization. This is the role of the welfare-state. Keynesianism inspired the dominant economic lines adopted by most of the founding states of the European Economic Community after its creation in 1957, before it turned to neoliberalism in the 1980s.