11. Hicks and Samuelson were for example instrumental in mainstreaming Keynesian economics . 12. Modern social democracy has abandoned Third-way mixed economies and relies on Keynesian economics . 13. The paper made Fischer a central figure in New Keynesian economics . 14. At that time, Keynesian economic thinking was dominant in the West. 15. Theodore, an early advocate of Keynesian economics , favoured deficit spending to rejuvenate the economy. 16. Other modern schools of economic thought are New Classical economics and New Keynesian economics . 17. New classical economics relied on the theory of rational expectations to reject Keynesian economics . 18. Post-Keynesian economics also concentrates on macroeconomic rigidities and adjustment processes. 19. Democrats typically advocate Keynesian economics , which involves additional government spending during an economic downturn. 20. The Great Recession, which began around 2007, prompted a resurgence in Keynesian economic thought.
