NotesFAQContact Us
Search Tips
Peer reviewed Peer reviewed
Direct linkDirect link
ERIC Number: EJ834641
Record Type: Journal
Publication Date: 2009-Mar
Pages: 3
Abstractor: ERIC
Reference Count: 0
ISSN: ISSN-0037-7724
Keynesian, Monetarist and Supply-Side Policies: An Old Debate Gets New Life
Niederjohn, M. Scott; Wood, William C.
Social Education, v73 n2 p68-70 Mar 2009
Debates over how to promote a healthy economy are pervasive once more, after decades when it seemed such debates had been put to rest. The market meltdown of 2008 ended a long string of years in which monetary policy reigned supreme. Monetary policy is the regulation of money and the banking system to influence economic variables. Its adherents, the "monetarists," had faced little challenge as they de-emphasized the role of fiscal policy, defined as the control of taxes and spending to influence economic variables. In this article, the authors discuss how the Keynesian fiscal policy, inspired by the work of British economist John Maynard Keynes, is enjoying a stunning revival under President Obama's new economic policy team. They also contend that the failure of the monetary policy to swiftly cure the country's economic woes, as it has in recent downturns, provides some of the impetus to revisit these theories of the past. While the authors agree that there are weaknesses in any proposed cure to the economy's current troubles, they believe that Keynesian fiscal stimulus is likely to have a positive impact in the short run. (Contains 1 note.)
National Council for the Social Studies. 8555 Sixteenth Street #500, Silver Spring, MD 20910. Tel: 800-683-0812; Tel: 301-588-1800; Fax: 301-588-2049; e-mail:; Web site:
Publication Type: Journal Articles; Opinion Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A