Markets can reach a point where they will not correct themselves. When all else fails the Government can come in and kick start the economy.
All that WW2 Government spending got us out of the Great Depression. But you could've done it without war. It's just that the fiscal conservatives resisted FDR's desire to do more during the New Deal. Love their flat little heads…
Keynes was an elitist. He thought he was better than everybody else because he went to Cambridge. Can't argue with that. Unless you went to Oxford.
He didn't like Jews. Well let's face it. Jews can be very annoying. Like Howie Mandel. Loud. Overly aggressive. Nothing like the Anglo-Saxons…
He thought Americans were stupid. Did you hear what I said? He thought Americans were stupid.
He didn't like the French. Well…the French…All those French wines and that French cuisine…and all those French women -- who are actually a lot like English women…except that they're French…. But on that last point… Keynes was gay… so…
He loved saying and writing outrageous things. You might say he was the Ann Coulter of his day….? Except that he had brains and despite being a natural conservative came up with political-economic concepts that while not quite socialist still were not thoroughly inimical to the interests of the working-class and the impoverished masses.
As for Keynes' overall worldview?
"In the long run we are all dead.."
Sort of puts things in perspective, don't it…?