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pump priming


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'pump priming' can also refer to...

pump priming

priming pump

pump priming

pump priming

pump priming

pump priming

pump priming

pump priming

Priming the pump The sovereign path towards paying for coin and circulating credit

 

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An addition to aggregate demand generated by a government in order to set off the multiplier process. It usually involves allowing government expenditure to exceed receipts, creating a budget deficit. Pump priming was widely used by governments in the post-war era in order to maintain full employment; however, it became discredited in the 1970s when it failed to halt rising unemployment and was held to be responsible for inflation.

Subjects: Financial Institutions and Services.


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