Ever wonder where we get some of our economic ideas? Well, there are two main economic views, Keynesian and Classical (also sometimes referred to as Austrian economics).
Keynesian is based on the British Economist John Maynard Keynes who influenced much of the economic and fiscal behavior of governments in the early 1900's. In a nutshell, Keynesian economists believe that there is a greater role for government intervention via fiscal policy to stimulate economic activity. Think of FDR and his New Deal plan - that's Keynesian.
Classical/Austrian economics emphasize free markets and focuses on limiting government intervention to remove barriers to an efficient economy. The economists most commonly related to the classical thought are Adam Smith (1776 The Wealth of Nations), Milton Friedman, and Friedrich Hayek.
Any guess which one the Platte Institute tends to focus on?