Introduction to Keynesian Economics Keynesian economics, developed by John Maynard Keynes during the Great Depression, revolutionized how economists and policymakers understood and treated economic activity. At its core, Keynesian theory underlines the leading role of aggregate demand for goods and...

Introduction The Keynes-Hayek rivalry represents one of modern economics’ most profound intellectual clashes. The works of John Maynard Keynes and Friedrich Hayek present contrasting visions of how economies function and the role that governments should play in managing those systems....

Introduction: America’s Mixed Market Economy The United States follows a mixed market economy—a method in which elements of capitalism and government intervention balance individual enterprise with public welfare. This economic model inspires private businesses to prosper in a competitive, profit-driven...