Keynesianism is an economic philosophy according to which social progress comes when individuals freely pursue their self-interests in unregulated markets.

Question

Quizplus · Accepted Answer

This is an incorrect statement. Keynesianism is actually an economic philosophy that emphasizes the importance of government intervention in the economy to promote economic growth and stability. It is based on the ideas of John Maynard Keynes, who believed that government spending and other fiscal policies could be used to counteract the fluctuations of the business cycle and stabilize the economy.

Keynesianism Is an Economic Philosophy According to Which Social Progress