economic theory

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Noun

1.

economic theory - (economics) a theory of commercial activities (such as the production and consumption of goods) theory - a well-substantiated explanation of some aspect of the natural world; an organized system of accepted knowledge that applies in a variety of circumstances to explain a specific set of phenomena; "theories can incorporate facts and laws and tested hypotheses"; "true in fact and theory" consumerism - the theory that an increasing consumption of goods is economically beneficial Keynesianism - the economic theories of John Maynard Keynes who advocated government monetary and fiscal programs intended to stimulate business activity and increase employment liberalism - an economic theory advocating free competition and a self-regulating market Malthusian theory, Malthusianism - Malthus' theory that population increase would outpace increases in the means of subsistence monetarism - an economic theory holding that variations in unemployment and the rate of inflation are usually caused by changes in the supply of money economic science, economics, political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management economic science, economics, political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management