[T]he view that financial market psychology is variable . . . and that market economies are unstable[,] . . . [and] the view that there is not much that government can do about downturns.
[The] view that the only source of instability in the economy is central bank money-printing[,] . . . [and the] view that deficit spending by the government provides a cure for unemployment.
Tempered by skepticism of:
[T]he monetarist . . . view that a downturn is almost entirely due to a misalignment between the supply of money and nominal wages[,] . . . [and] the “New Keynesian” view that a downturn is almost entirely due to a misalignment between the money supply and aggregate prices.