Is Keynesian economics dead today?
Keynesian economics has always existed, but it has been dormant for a long time. With
challenges such as unemployment, the rapid spread of the virus, and the stalling of the
economy caused by COVID-19, governments all over the world have become acutely aware
of the critical necessity of Keynesian principles. Most people identify Keynesian economics
with governments spending their way out of recessions, a policy that is currently being
implemented around the world in real time. That is definitely central to the Keynesian
revolution in political economics. Following Keynes’ theory, governments are pursuing the
measures to bring the economy back on track at this time being. It is undeniably the Modern
period, and procedures will alter, but the substance will remain the same.
Based on the recent article, US is consider the era between FDR’s second victory and
Donald Trump’s election. According to the core notion of deficits in Keynesian economics,
