ECONOMIC THEORY-the ideas and priniciples that aim to describe how economies work: ... a particular idea or principle that aims to describe how an economy works:

CONSUMERISM-the belief that it is good for people to spend a lot of money on goods and services.

: the actions of people who spend a lot of money on goods and services

KEYNESIANISM-the economic theories and programs ascribed to John M. Keynes and his followers; specifically : the advocacy of monetary and fiscal programs by government to increase employment and spending.

LIBERALISM-belief in the value of social and political change in order to achieve progress.

MALTHUSIANISM-of or relating to Malthus or to his theory that population tends to increase at a faster rate than its means of subsistence and that unless it is checked by moral restraint or disaster (as disease, famine, or war) widespread poverty and degradation inevitably result

MONETARISM-a theory in economics that stable economic growth can be assured only by control of the rate of increase of the money supply to match the capacity for growth of real productivity.

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