Keynesian economics

The macroeconomic theory based upon the ideas of, as the name suggest, John Maynard Keynes. In the most basic of explanations, he states that one persons spendings are another persons earnings and it goes round in circlular flow of money, this cirlce being the economy. The Keynesian approach to the great depression would have been to keep pumping money into the economy to regenerate spending amongst the public, but as seen in Germany after WW1 this could lead to hyperinflation. The keynesian theory also requires for the public sector to step in and increase their spending. Although this was not a popular approach due to it coming after a popular laissez fair capitalist approach, which believed that the economy if left alone would eventually recover itself which was the view of Friedrich Von Hayek. The two had a very publiv feud about approach to economics. The Keynesian approach also has a marxist tint to it where it requires the distribution of wealth when needed. The idea behind this is that giving Poorer people money will mean they spend rather than save causing cash flow into the economy. Like I say this is a very basic understanding of the Keynesian theory and a full insight into all his ideas goes straight over my head.