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C. P. Chandrasekhar As the term of the current NDA government nears its end, with signs of popular dissatisfaction over its performance on the economic front, the urge to ramp up expenditure to woo the electorate intensifies. But a number of factors have combined to render...

Neo-Keynesianism The following article is from The Great Soviet Encyclopedia(1979). It might be outdated or ideologically biased. Neo-Keynesianism a bourgeois theory of state-monopoly regulation of the capitalist economy. Neo-Keynesianism is a modification of Keynesian economics to suit the historical conditions that took shape after World War II. Among the...

Definition of Economics:

It is necessary to define the subject which we want to study. Definition of a subject facilitates the understanding of its meaning, nature, characteristics and limitations. There­fore, it is necessary to begin the study of economics with its definition.