Question

Keynesians believe in a more managed economy, does this mean they don’t believe in capitalism?

Answer 1

Keynesian believed in managed economy which sees government role also as critical to avoid market failure and hence support sustained economic growth that doesn't mean that Keynesian doesn't believe in capitalism instead it believed in capitalism but also believed that extreme case of capitalism will also be detrimental for the society in general and lead way to socialism as extreme capitalism will lead to power in hand of selected few or it believes in monopoly which is not good, hence Keynesian eventhough believe in capitalism but at the same time believes that in extreme form it is dangerous and should be checked in time to time in which government plays an important role.