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Laissez-Faire Economics
A market system with minimal government intervention, where private parties are free to conduct business as they see fit.
Keynes
Refers to John Maynard Keynes, a British economist whose theories on the impact of government policies on economic recessions and depressions have significantly influenced modern macroeconomics.
The Classicals
A group of economists in the late 18th and early 19th centuries who believed in free markets, free trade, and limited government intervention in the economy.
Full Employment
A situation in an economy where all available labor resources are being used in the most economically efficient way.
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