Keynesian Economics Concepts Explained with No Math!

Keynesian Economics, named after economist John Maynard Keynes, suggests that governments should spend money during economic recessions and how that can positively influence the business cycle. Franklin D. Roosevelt's New Deal during the Great Depression reflected Keynesian economics and put billions of dollars into the economy. More recently we've seen stimulus packages, such as Obama's 2009 American Recovery and Reinvestment Act (ARRA) reflect Keynesian Economics as well.

*It should be noted that Keynes's direct impact on the New Deal is debated as his influence grew in the mid 1930s. Because of significant overlap in New Deal policies and Keynesian economics, however, the two are often colloquially and conceptually linked.

And of course, subscribe so you don't miss any new videos!:
   / @korczyksclass  

Sources:

Noesgaard, D., Yoshida, D., Colless, R., Phui, L., & Fielding, J. (2010). Understandings of ideologies. Don Mills, ON: Oxford University Press.

Paul Krugman, Why Aren't We All Keynesians Yet?, Fortune Magazine, 1998, https://money.cnn.com/magazines/fortu... ​

Images:​

ARRA, By UpstateNYer - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index... ​

S&P 500 Chart, By Overjive - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index... ​

"Work Pays America" video by the US Works Progress Administration, https://archive.org/details/WorkPays1937 ​

Paul Krugman, https://www.economicpolicyjournal.com... ​

Guns, Photo by David Landry from Pexels ​

Great Depression Unemployment, By Pharexia - ftp://ftp.bls.gov/pub/special.requests/lf/aat1.txt, CC BY-SA 4.0, https://commons.wikimedia.org/w/index... ​

Stock shopping videos, videezy.com ​

Wall Street Journal, https://www.wsj.com/articles/whats-in... ​

Fry Vector, AgentStrix on Reddit, Fair Use, original image from Futurama, 20th Century Fox television.