Complex sentence: As Keynesian policies seemed to falter in the 1970s there emerged the so-called New Classical school, with prominent theorists including Robert Lucas and Edward Prescott, who tried to provide neoclassical microeconomic mechanisms to help analyze macroeconomic issues.
Split into simpler sentences: As Keynesian policies seemed to falter in the 1970s there emerged the so-called New Classical school, with prominent theorists such as Robert Lucas and Edward Prescott. This Kind of economic thought has tried to provide neoclassical microeconomic mechanisms to help analyze macroeconomic issues.