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Strange reading of Keynes. I never read him advocate for rampant wasteful consumerism. In fact many of his arguments about government intervention (investment)

• Ericson2314 5y ago
  Indeed, and bubbles are in assets not goods to consumption, and stimulus is supposed to boost consumption in the first order, so the comparison seems even more far fetched.
• ephbit 5y ago
  > ... his observation that consumption is prone to drying up. Now that wording has a certain ring to it (in my ears). "Consumption prone to drying up"? As if consumption alone were of any value. As if consumption were the foundation of all well being. As if it were something that needs to be tended to like some garden with flower beds. Sounds more like ideology to me instead of reasoning.
  • Ericson2314 5y ago
    Keynesian isn't a value judgement on whether various sorts of consumption are good. It's firstly a description of how capitalist economies actually work, and secondarily a toolkit of policy based on that description. The focus on demand is primary because how it affects the economy writ large. In fact, Keynes himself famously thought that would be working 15 hours a week by now instead of...well...wherever all the work is going, some of which I suppose is propping up the consumption you don't approve of.
• 988747 5y ago
  Keynes advocated for rate cuts as a remedy for crises. His reasoning being that cheap credit will stimulate demand for consumer goods. It's almost the textbook definition of "wasteful consumerism".