John Maynard Keynes is the father of modern macroeconomics, modern social liberal economics, and generally Keynesian economics and it’s various offshoots. Keynesian economics, and it’s offshoots, are the basis of modern economics. The rival school of economics is classical economics which arises from the other father of modern economics Adam Smith. Keynesian economics can be summed up as approving of government intervention in the free-market, the most famous first example of Keynesian economics in action is FDR’s New Deal.

Neoliberalism Explained

Neoliberalism is an economically-minded evolution of classical liberalism focused on deregulation, trade, and the private market. It is a “middle way” or “third way” between liberalism and conservatism.