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1.
Any fiscally conservative or moderate economic policy or theory aimed at satisfying all political parties involved.

Named after American Senator Evan Bayh (D-IN) and his archetype, the hallowed economist Alan Keynes, both advocates, to some degree, of lasseiz-faire politics.
The main problem with Bayhnseian Economics is that while attempting to satisfy everybody involved, it also has a record of not satisfying anybody.
by Fiscally Confused February 05, 2009