Pronounced as Jone Sesh
Abbreviation of Kyone Session, from the Burmese word Kyone, meaning to grind
Refers to any romantic encounter, like holding hands, making out, or having sex
Abbreviation of Kyone Session, from the Burmese word Kyone, meaning to grind
Refers to any romantic encounter, like holding hands, making out, or having sex
Dave and Susie had a kyone sesh behind the bushes last night
Don’t go into that room, they’re kyone seshing in there
Don’t go into that room, they’re kyone seshing in there
by OhMyGiddyAunt January 11, 2018
Get the Kyone Sesh mug.by pentozali June 26, 2006
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*noun*; a school of economic thought prevalent after World War 2; around 1980, Keynesianism was supposedly superseded by monetarism, and then by the rational expectations hypothesis. Theory is named for John M. Keynes (1881-1946), who argued against the then-mainstream view that the economy was "self correcting." Keynes' book introducing his economic theory was The General Theory of Employment, Interest, and Money (1936).
*Basic Concept*
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The basic concept of Keynesianism is that each economy has a level of aggregate demand, which does not respond to price or income levels in the same way that classical economics says it should. Rising income, for example, *does not* lead to a matching increase in consumption or business investment. Business investment is driven by investment opportunity, not {only by interest rates. Savings is driven by liquidity preference, not only by interest rates.
Keynes suggested that, for any economy, there was a marginal propensity to consume that was less than one. Hence, if the national income rose by 10%, consumption would rise by something less than 10%. This would lead to some production not being consumed, waste, and unemployment.
*What Keynesianism Says We Should Do*
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In 1936, when Keynes wrote *The General Theory*, most of the world was suffering from the Great Depression. Keynes recommended that the national government stimulation aggregate demand through a policy of deficit stimulus. In other words, the country should create adequate levels of aggregate demand by spending more than it took in as taxes (fiscal policy).
Also, Keynesianism held that aggregate demand could be stimulated *up to a point* by lowering interest rates (monetary policy).
*Application*
_______________________________________
In the USA and other large industrial countries, fiscal and monetary policy has been attempted often. After 1980, the Federal Reserve chair (Paul Volcker) was a monetarist, who claimed to reject Keynesianism. Nobel laureates in economics almost unanimously attacked Keynesianism as outmoded and wrong-headed, but governments continue to use fiscal stimulus and interest rate cuts in response to recessions.
*Basic Concept*
_______________________________________
The basic concept of Keynesianism is that each economy has a level of aggregate demand, which does not respond to price or income levels in the same way that classical economics says it should. Rising income, for example, *does not* lead to a matching increase in consumption or business investment. Business investment is driven by investment opportunity, not {only by interest rates. Savings is driven by liquidity preference, not only by interest rates.
Keynes suggested that, for any economy, there was a marginal propensity to consume that was less than one. Hence, if the national income rose by 10%, consumption would rise by something less than 10%. This would lead to some production not being consumed, waste, and unemployment.
*What Keynesianism Says We Should Do*
_______________________________________
In 1936, when Keynes wrote *The General Theory*, most of the world was suffering from the Great Depression. Keynes recommended that the national government stimulation aggregate demand through a policy of deficit stimulus. In other words, the country should create adequate levels of aggregate demand by spending more than it took in as taxes (fiscal policy).
Also, Keynesianism held that aggregate demand could be stimulated *up to a point* by lowering interest rates (monetary policy).
*Application*
_______________________________________
In the USA and other large industrial countries, fiscal and monetary policy has been attempted often. After 1980, the Federal Reserve chair (Paul Volcker) was a monetarist, who claimed to reject Keynesianism. Nobel laureates in economics almost unanimously attacked Keynesianism as outmoded and wrong-headed, but governments continue to use fiscal stimulus and interest rate cuts in response to recessions.
Keynesianism held out the prospect that the state could reconcile the private ownership of the means of production with democratic management of the economy.
Adam Przeworski, *Capitalism and social democracy* (1986)
Adam Przeworski, *Capitalism and social democracy* (1986)
by Abu Yahya March 3, 2009
Get the Keynesianism mug.A very attractive girl.Mostly known for her flawless body and perfect smile .Boys who see her instantly fall in love.
(kornelija) is beauty
by iuahbsj May 27, 2017
Get the kornelija mug.When kaynest is in the room it instantly becomes 50 degrees hotter. He's the embodiment of having game
by I am famous July 2, 2023
Get the kaynest mug.Kone is a timid boy. Sometimes he will act out in class or his job. He is sweet but sometimes cannot think about others feelings. He is a succesful figure and has a good social life though.
Kone is the man!
by Personofdeath February 5, 2018
Get the Kone mug.A good tasting alcoholic drink. Usually found in 10 liter Kornister and consumed in large amounts. Having a "Ausländer" at the party and serving him "Korneistee" will make him very happy and nauseous. If given too much the "Ausländer" will start vomiting thus protecting others from Covid-19 by making them leave the room.
by MrMiosga November 25, 2020
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