"I think the basic issue there is the question of whether there are any dead weight losses or market filures of a macroeconomic nature in a market economy. Neo-Keynesians think there are and that the government can do something about them. They think that demand management policy can assist the economy to stay close to its equilibrium track."
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James Tobin, in Conversations with Economists (1983) by Arjo Klamer
https://en.wikiquote.org/wiki/Neo-Keynesian_economics
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Neo-Keynesian economics
Neo-Keynesian economics is a school of macroeconomic thought that was developed in the post-war period from the writings of John Maynard Keynes. A group of economists (notably John Hicks, Franco Modigliani, and Paul Samuelson), attempted to interpret and formalize Keynes' writings, and to synthesize it with the neo-classical models of economics.
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