Keynesian, New Keynesian and Post-Keynesian Economics

Schools descended from John Maynard Keynes's argument that aggregate demand, not automatic market clearing, drives output and employment. Belongs here: Keynesian Economics itself; the Neoclassical Synthesis, which merged Keynesian macroeconomics with neoclassical microeconomics after the Second World War; New Keynesian Economics, which supplies microeconomic foundations of sticky prices and wages to Keynesian macro; Post-Keynesian Economics, which rejects the neoclassical synthesis and develops Keynes's demand-driven insights with classical distribution theory instead; the Stockholm School, an independent Swedish tradition that reached similar demand-driven conclusions around the same time as Keynes; and the Regulation School, the French tradition studying the changing institutional regimes that stabilize capitalist demand and accumulation. Does not belong here: monetarism and new classical economics, which reject the Keynesian view that markets fail to clear on their own, grouped under Chicago School, Monetarism and the Free-Market Counter-Revolution.