Keynesian

Keynesian is an economic theory based on the ideas of twentieth-century British economist John Maynard Keynes. It is a theory of total spending in the economy, called aggregate demand, and of its effects on output and inflation. The state, according to Keynesian, can help maintain economic growth and stability in a mixed economy, in which both the public and private sectors play important roles. Keynesian economics seeks to provide solutions to what some consider failures of laissez-faire economic liberalism, which advocates that markets and the private sector operate best without state intervention.