There will never be an end to Keynesian economics. Just, perhaps, an end to the Democratic Party’s ability to employ it.

Republicans pretend to disagree with Keynesianism when Democrats are in power, vociferously discouraging its use by harping on the numerous things about both Keynesian monetary and fiscal policy which are counterintuitive to average Americans who do not understand economics. For instance, Republicans during Barack Obama’s presidency have lambasted his fiscal stimulus because it just can’t be right for America to spend money when it’s already in debt, right? I mean $14 trillion’s a big number, right? And Republicans have also blasted any and all monetary stimulus out of the Fed, which is entirely consistent with Republican wishes to have hard money throughout their presidencies, right?

Democrats, on the other hand, are handicapped in that they cannot pretend to disagree with the basic premise of Keynesianism–that government, being the main actor in the US economy, must help along the economy with fiscal and monetary stimulus when it hits a rough patch–during periods of Republican reign. So, when Republicans control the executive branch and/or a branch of Congress and pass stimulative tax cuts or pass stimulative spending bills, Democrats can only disagree with the specific content of those bills, not the underlying premise, which, with an economically illiterate electorate, is a serious tactical handicap.

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