Questions what is the main features of the socialist economy?

131. Keynesian doctrine

Key words: definition, main aspects, inflation rate of unemployment

Keynesian economics is a theory that says the government should increase demand to boost growth. 1 Keynesians believe consumer demand is the primary driving force in an economy. As a result, the theory supports the expansionary fiscal policy.

132. Schumpeter's economic views

Key words: his works, Business cycles, Democratic theory

Schumpeter is best known for his 1942 book Capitalism, Socialism, and Democracy as well as the theory of dynamic economic growth known as creative destruction. He is also credited with the first German and English references to methodological individualism in economics.