Huge amounts of military spending provide the example that solidifies the Keynesian claim.
However, expectations of just what Keynesian economic policy can achieve should be limited.
In doing this, he abandoned what was his earlier bias against Keynesian stimulus.
In other words, neither Keynesian stimulus nor expansionary monetary policy are long term solutions.
Judging by their policies, George W. Bush, Barack Obama, and Ben Bernanke have to be classified as Keynesian.
As I say, at least they now believe in Keynesian stimulus and are a little more skeptical of Friedmanism.
But obstructionists are unmoved by the standard Keynesian arguments that experienced policy economists take for granted.
A certain amount of Keynesian pump-priming, of the right sort, won't do any harm—but it probably won-t do much good either.
A demand-side cut rests on the Keynesian theory that public consumption spurs economic activity.
But both built up massive deficits, more massive than any Keynesian.
1937 (adj.), 1942 (n.), from name of British economist John Maynard Keynes (1883-1946).