When you understand what keynes actually wrote, you don't have to backpedal. I studies him extensively... then I moved away from him when everybody was using him to justify govt spending... and I found the austrian school to be more convincing... However.. due to arguments I had here like this years ago.. I went back and re read some of his work... I realized he was being misrepresented. He was a great thinker...
Move the cursor back one day It seems that 9/13 would be the news of the year... zero cases Your number is for 2 days
Keynes was a great thinker. Way ahead of his time. I read somewhere all truth goes three phases. First it’s ridiculed, then it’s violently opposed, and finally declared self evident. So much of the way we understand the way money moves and it’s importance to growth and employment is directly from Keynes. Even Sayes relied Keynes theories of velocity for Austrian philosophy. Just remember Keynes established 2 points for economic well being of countries 1. High interest rates are killers because they stifle consumption and incentivize hoarding and 2. Governments must invest BIG and prudently. In a lot of ways the growth miracle post the Great Recession is affirmation of Keynes. If we learned anything we did not spend enough early to combat recession in 2008/2009. When the postmortem is written on the Covid economic recovery it will be interesting to see where we end out. However, it is impossible to know right now because Biden and the Dems are looking to give the economy one last push over the next 5-10 years. If it’s one thing I am absolutely sure about it’s Keynes would say go big.