Speakur

Word Pronunciation & Dictionary

hydraulic keynesianism

Word Rarity Very rare

Frequency: Zipf frequency 1.85 in modern English

Syllables
hy-draulic key-ne-sian-ism
IPA
39
Scrabble Score
21
Letters
5
Syllables
14
Unique Chars

Meaning

noun

A type of Keynesianism that assumes homogeneous macroeconomic aggregates and uses that assumption in relation to the Phillips curve to exploit a trade-off between inflation and unemployment, typically prioritising low unemployment at the expense of higher inflation.

Derogatory; Uncountable

Etymology

Coined by Alan Coddington in 1976. In reference to Alban William Phillips' hydraulic MONIAC computer, which he used for modelling the economy.

Usage

Questions

What does hydraulic keynesianism mean?
A type of Keynesianism that assumes homogeneous macroeconomic aggregates and uses that assumption in relation to the Phillips curve to exploit a trade-off between inflation and unemployment, typically prioritising low unemployment at the expense of higher inflation.
Where does hydraulic keynesianism come from?
Coined by Alan Coddington in 1976. In reference to Alban William Phillips' hydraulic MONIAC computer, which he used for modelling the economy.

How to pronounce hydraulic keynesianism

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