John Maynard Keynes was a microeconomist that got a few things right in the little picture, and got virtually everything wrong in the big picture. His macroeconomic theories have been long disproven. But since the collectivists prefers comforting lies to uncomfortable truths, they ignore Science and History and believe in unicorns and Keynesianism.
|Keynes was a Micro-economist who thought we could tax ourselves into prosperity. All of his Macro-economic theories were proven wrong by history, and explained why by Hayek. Since the left believes in Socialism and doesn't believe in history, they still think that real Keynesianism has never been tried.
|Economists can't agree on anything, other than that Keynes was wrong. If it worked, then governments that spent the most would be the most successful. We could have spent our way out the Great Depression (it made it worse), Obamanomics would have worked (weakest recovery in history), there would have been a post-war depression (boom instead), there couldn't have been stagflation in the 1970, Communist China/Russia/Venezuela/North Korea would have been successes, and the free market China/Russia/South Korea would have been disasters.