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Marxism and Keynesian economics, the Glossary

Marxism and Keynesianism is a method of understanding and comparing the works of influential economists John Maynard Keynes and Karl Marx.^[1]

53 relations: A Treatise on Money, Austerity, Bourgeoisie, Business cycle, Capital accumulation, Capitalism, China, Classical economics, Crisis theory, David Ricardo, Deflation, Demand-side economics, Dialectical materialism, Economist, Effective demand, Fiscal policy, Franklin D. Roosevelt, Georg Wilhelm Friedrich Hegel, German idealism, Great Depression, Great Recession, Heterodox economics, Inflation, Interest rate, Investment, John Maynard Keynes, Karl Marx, Keynesian economics, Laissez-faire, List of socialist states, Market failure, Marxian economics, Mode of production, Monetary policy, Money, Multiplier (economics), Neoclassical economics, Neoliberalism, New Deal, Overproduction, Post-Keynesian economics, Production (economics), Proletariat, Real economy, Recession, Reserve army of labour, Say's law, Soviet Union, Surplus value, Unemployment, ... Expand index (3 more) »
History of economic thought

A Treatise on Money

A Treatise on Money is a two-volume book by English economist John Maynard Keynes published in 1930. Marxism and Keynesian economics and a Treatise on Money are Keynesian economics.

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In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. Marxism and Keynesian economics and austerity are political economy.

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Bourgeoisie

The bourgeoisie are a class of business owners and merchants which emerged in the Late Middle Ages, originally as a "middle class" between peasantry and aristocracy.

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Business cycle

Business cycles are intervals of general expansion followed by recession in economic performance.

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Capital accumulation

Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains. Marxism and Keynesian economics and capital accumulation are Marxian economics.

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Capitalism

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.

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China

China, officially the People's Republic of China (PRC), is a country in East Asia.

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Classical economics

Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid-19th century.

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Crisis theory

Crisis theory, concerning the causes and consequences of the tendency for the rate of profit to fall in a capitalist system, is associated with Marxian critique of political economy, and was further popularised through Marxist economics. Marxism and Keynesian economics and Crisis theory are Marxian economics.

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David Ricardo

David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, politician, and member of the Parliament of Great Britain and Ireland.

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Deflation

In economics, deflation is a decrease in the general price level of goods and services.

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Demand-side economics

Demand-side economics is a term used to describe the position that economic growth and full employment are most effectively created by high demand for products and services.

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Dialectical materialism

Dialectical materialism is a materialist theory based upon the writings of Karl Marx and Friedrich Engels that has found widespread applications in a variety of philosophical disciplines ranging from philosophy of history to philosophy of science.

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Economist

An economist is a professional and practitioner in the social science discipline of economics.

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Effective demand

In economics, effective demand (ED) in a market is the demand for a product or service which occurs when purchasers are constrained in a different market. Marxism and Keynesian economics and effective demand are Keynesian economics.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy.

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Franklin D. Roosevelt

Franklin Delano Roosevelt (January 30, 1882April 12, 1945), commonly known by his initials FDR, was an American politician who served as the 32nd president of the United States from 1933 until his death in 1945.

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Georg Wilhelm Friedrich Hegel

Georg Wilhelm Friedrich Hegel (27 August 1770 – 14 November 1831) was a German philosopher and one of the most influential figures of German idealism and 19th-century philosophy.

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German idealism

German idealism is a philosophical movement that emerged in Germany in the late 18th and early 19th centuries.

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Great Depression

The Great Depression (19291939) was a severe global economic downturn that affected many countries across the world.

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Great Recession

The Great Recession was a period of marked decline in economies around the world that occurred in the late 2000s.

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Heterodox economics

Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics. Marxism and Keynesian economics and Heterodox economics are history of economic thought and political economy.

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Inflation

In economics, inflation is a general increase in the prices of goods and services in an economy.

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Interest rate

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum).

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Investment

Investment is traditionally defined as the "commitment of resources to achieve later benefits".

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Marxism and Keynesian economics and John Maynard Keynes are Keynesian economics.

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Karl Marx

Karl Marx (5 May 1818 – 14 March 1883) was a German-born philosopher, political theorist, economist, historian, sociologist, journalist, and revolutionary socialist.

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Keynesian economics

Keynesian economics (sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation.

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Laissez-faire

Laissez-faire (or, from laissez faire) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations).

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Several past and present states have declared themselves socialist states or in the process of building socialism.

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Market failure

In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.

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Marxian economics

Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Marxism and Keynesian economics and Marxian economics are political economy.

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Mode of production

In the Marxist theory of historical materialism, a mode of production (German: Produktionsweise, "the way of producing") is a specific combination of the. Marxism and Keynesian economics and mode of production are Marxian economics.

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Monetary policy

Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation).

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Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.

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Multiplier (economics)

In macroeconomics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in some exogenous variable. Marxism and Keynesian economics and multiplier (economics) are Keynesian economics.

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Neoclassical economics

Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model.

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Neoliberalism

Neoliberalism, also neo-liberalism, is both a political philosophy and a term used to signify the late-20th-century political reappearance of 19th-century ideas associated with free-market capitalism.

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New Deal

The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1938 to rescue the U.S. from the Great Depression.

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Overproduction

In economics, overproduction, oversupply, excess of supply or glut refers to excess of supply over demand of products being offered to the market.

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Post-Keynesian economics

Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Marxism and Keynesian economics and Post-Keynesian economics are Keynesian economics.

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Production (economics)

Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output.

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Proletariat

The proletariat is the social class of wage-earners, those members of a society whose only possession of significant economic value is their labour power (their capacity to work).

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Real economy

The real economy concerns the production, purchase and flow of goods and services (like oil, bread and labour) within an economy.

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Recession

In economics, a recession is a business cycle contraction that occurs when there is a general decline in economic activity.

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Reserve army of labour

Reserve army of labour is a concept in Karl Marx's critique of political economy. Marxism and Keynesian economics and Reserve army of labour are Marxian economics.

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Say's law

In classical economics, Say's law, or the law of markets, is the claim that the production of a product creates demand for another product by providing something of value which can be exchanged for that other product.

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Soviet Union

The Union of Soviet Socialist Republics (USSR), commonly known as the Soviet Union, was a transcontinental country that spanned much of Eurasia from 1922 to 1991.

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Surplus value

In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to manufacture it: i.e. the amount raised through sale of the product minus the cost of the materials, plant and labour power. Marxism and Keynesian economics and surplus value are Marxian economics.

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References

[1] https://en.wikipedia.org/wiki/Marxism_and_Keynesian_economics

Also known as Marxism and Keynesianism.

, United States, World War II, 2007–2008 financial crisis.

Marxism and Keynesian economics, the Glossary

Table of Contents

See also

History of economic thought

References