Keynesian economics is a macro economic theory of total spending in the economy and it's effects on output , employment, and inflation. Keynesian economics was developed by the British economists John Meynard Keynes during the 1930s in an attempt to understand the great depression. Keynesian economics is considered a demand side theory that focuses on changes in the economy over the short run. Based on his theory keynes advocated for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the depression.

New Keynesian advocates maintain that prices and wages are "sticky" Meaning they adjust slowly to short term economic fluctuations. This, in turn explains such economic factors as involuntary unemployment and the impact of federal monetary policies.

Fordism refers to the system of mass production and consumption characteristic of highly developed economies during the 1940s and 60s.under fordism mass consumption combined with mass production to produce sustained economic growth and wide spread material advancement.

Fordism is probably still expanding. Mass production of standardized goods on assembly lines is probably becoming more, not less ,wide spread. The pre fordist service industries are becoming more fordist rather than post fordist.

Fordist phase

. National demand

. Welfare state

.state intervention

. Economic regulation

. Tourism as social right