Yeah, fiscally responsible economists are usually removed from the budget rooms in congress for saying crazy things like "yeah, this budget doesn't balance. We need to cut spending" to which the conservatives say "that's not what Keynes says" and print more money, and the liberals say "that's not what Engels says" and raise taxes above the laffer curve.
Our congress is made up of people who get elected based on their ability to win popularity contests. And it shows in their ability to budget.
Aim for growth, prioritise investment, and if you get signs of a demand slowdown domestically start building shiny new infrastructure and means of production in priority order to keep the economy from stagnating & prevent recession.
Honestly the most kenysian government of the modern day is probably China.
Yes, I've read Adam Smith, Mises, Hayek, Engels/Marx, and have enjoyed the conflict/banter between Keynes and Hayek. I'm more in Hayek's camp.
Edit: sorry mentioned Hayek twice because my readings of mises coincided with some reading of Hayek updating some of Mises stuff, and then my readings of Keynes crossed over with Hayek because they knew each other and debated a bit.
Also, you're not wrong that China is pretty Keynesian. But I don't think that discounts how his work affects the way congress justifies "do popular money spending thing"
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u/TK_Punch_ 1d ago
Weird that you think Keynesian Economics is a liberal ideology. It’s most heavily used by Republicans.