The Origin of Keynesian Economics and Some Applications to Restructuring and Globalization

In The General Theory of Employment, Interest and Money , Keynes distinguished between “structural” and “involuntary,” or “demand deficient,” unemployment. What is called Keynesian unemployment is said to refer only to the latter. Thus, you hear: “Expansionary policy in Germany would lead only to inflation because its unemployment is structural.” These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.