Government planning of the economy central: only
governments have the economic clout to correct
fluctuations in the economy
Spending against the will by governments: when the
economy is doing badly, governments need to spend to
boost it – fiscal stimulus; when the economy is doing well,
governments need to reduce spending to stop overheating.
Macro-economics: Macroeconomics is the branch of
economics concerned with aggregates, such as national
income, consumption, and investment (Keynes came up
with such ideas as inflation, GDP, unemployment)