Neoclassical synthesis is a combination of two theories. One of them, Keynesian, reveals the concept of "effective demand." The second, neoclassical, reflects the meaning of distribution and production. Keynesianism specializes in studying the conditions of implementation that determine the actual industrial level. According to a number of authors, the neoclassical trend begins precisely with factors reflecting the optimal (potentially possible) degree of development of production. When considering the possibility of convergence of these two theories, thus, the first step is a kind of "separation of concepts."
Neoclassical synthesis involves the unity of the object of study of both currents of
economic thought. The peculiarity of the combined theories is that the subject is a functional quantitative dependence of capitalist reproduction. Neoclassical synthesis, therefore, involves the study of the current aspect of the production process from various angles.
The unification of currents is a kind of “budding” of the macroeconomic functional field of research from the bourgeois theory of a traditional character. In this area, there could be no other way of forming macroanalysis. Thus, the neoclassical synthesis of trends is a confirmation of the division of political economy into two main areas: functional and historical concepts. The beginning of the unification process testified to the unsatisfactory aspects that existed, which acted as the theoretical basis of the state-monopoly control of the capitalist system.
The “great neoclassical synthesis" was associated among bourgeois politicians and scientists with the elimination of crisis moments in the economy, which are becoming quite acute over time. Some authors saw the task of combining theories in a significant reduction in unemployment and inflation, in accelerating the growth rate of the economic system. Another aspect was the desire to overcome the fragmentation of the directions and currents of political economy, creating a single concept.
If neoclassical synthesis were ineffective, one would have to admit that a mixed management system has limited ability to change
growth rates.Deep development of capital is extremely important. It should be said that it does not always go smoothly in a mixed economy. However, assuming that the country's employment is maintained at a high level, part of the output can be withdrawn from the consumption field and allocated for capital formation. For this, a combination of certain activities is used. First of all, it is necessary to pursue a monetary expansion policy. It contributes to the development in depth. The neutralization of the increase in investment costs is carried out through a fiscal tight policy, which provides for increased tax rates.