President Ronald Reagan rejected the theory of Keynesian economics, this theory proposed by John Maynard Keynes, embodied in his work General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of 1929, the central principle of this school of thought is that state intervention can stabilize the economy, Keynesianism is one of the best-known economic theories, its main characteristic is that it supports interventionism as the best way out of a crisis and as a mechanism to stimulate demand and regulate the economy in times of depression.
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Federalism in a workplace is characterized by equal and responsible distribution of power between a general and a specific base of power.
Explanation:
In an office space, the manager or the executive officer can represent the general authority which is the representation of the union government in the federation. The specific officers working within that manager's scope serve the position of the regional powers or the states.
In this system, it would mean that there is a division of power and that the manager is treated on equal footing in terms of stature with the workers even though their job is to oversee the work.
There would be certain areas where the workers can work unquestioned and some areas where they have to consult the manager.
