The thing about Keynes is that his ideas are probably the best way to keep a capitalist system from violently imploding.
Capitalism won’t be kept away from violently imploding as long as the contradictions within it exist, which of course won’t ever go away because they’re an intrinsic feature of the system itself
Keyseian economics do cover the tracks of a substantial portion of the contradictions within capitalism. Namely, you can prevent virtually any large enterprise from going belly up this way.
The problem is that this then creates a massive upwards transfer of wealth from petite bourgeois/middle class to the ruling class, which is in many ways more likely to lead to fascism than socialism, as the working classes position can forever remain stagnant, without serious decline (although the pandemic really did change this, but a normal financial crisis wouldn’t) under expansionary economics. The rise of socialism mostly happened during a period where the economic health of many countries had a massive rapid decline in the standard of living even for the working class.
Keyseian economics do cover the tracks of a substantial portion of the contradictions within capitalism. Namely, you can prevent virtually any large enterprise from going belly up this way
You realize the most basic and fatal contradiction of capitalism is the fact that workers and the capitalists have opposing interests, right? If there’s class conflict, the system will eventually end, someday. How does keynesianism cover this?
