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hydraulic Keynesianism

hydraulic Keynesianism 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.

Noun

hydraulic Keynesianism (uncountable)

  1. (derogatory) 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.

Origin of hydraulic Keynesianism

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

Questions about hydraulic Keynesianism

What does hydraulic Keynesianism mean?
Hydraulic Keynesianism means 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.
What part of speech is hydraulic Keynesianism?
Hydraulic Keynesianism is a noun.

Words near hydraulic Keynesianism in the dictionary

  1. hydraulic fluids
  2. hydraulic fracturing
  3. hydraulic horsepower
  4. hydraulic horsepowers
  5. hydraulic jump
  6. hydraulic Keynesianism
  7. hydraulic lime
  8. hydraulic limes
  9. hydraulic limestone
  10. hydraulic limestones
  11. hydraulic mining

Source and license

Adapted from Wiktionary: hydraulic Keynesianism (page history and authors). Text available under the Creative Commons Attribution-ShareAlike 4.0 license. Word.ws reformatted the entry and added links. Wiktionary data of 2026-09-02.

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