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Keynesian Economics
Term category: Economics
In 10 words or less: A theory of economics supporting government intervention.

Definition: The theory of economics that centers around the idea that the economy is best run when it is controlled by government intervention.

More Details: People who subscribe to the Keynesian line of theory believe that strong government intervention is necessary to keep the economy operating smoothly. The government is thought to smooth out the economy by controlling interest rates, issuing tax breaks, and controlling spending.

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