Keynesian economics (pronounce /ˈkeɪnziən/, "kay-neez-ean"), also Keynesianism and Keynesian Theory, is an economic theory based on the ideas of twentieth-century British economist John Maynard Keynes. The state, according to Keynesian economics, can help maintain economic growth and stability in a mixed economy, in which both the public and private sectors play important roles. Keynesian economics seeks to provide solutions to what some consider failures of laissez-faire economic liberalism, which advocates that markets and the private sector operate best without state intervention. The theories forming the basis of Keynesian economics were first presented in The General Theory of Employment, Interest and Money, published in 1936.