I like to think of myself as an amateur economic scholar, more amateur than scholar. Anyways I've seen the math and think I understand it pretty well. I've studied the Austrian school as well and find this math much more fundamentally sound in the long run. And that is the key "in the long run". Kaynes is famous for saying "In the long run we'll all be dead". In Keynesian theory when there is a crisis the government is supposed to increase spending basically by printing more cash. The key is in a crisis. What has actually happened is that policy makers saw the power of the theory and the results and said.. Hey if a little meddling is good a lot of meddling will be even better. I get a little bit frustrated that his theory is dragged though the mud, by it's abuse by policymakers. His theory was the only one that offered a short term solution to the mess the world found itself in during the great depression. The problem is that we have rarely encountered such situations and the chicken littles in power always say the sky is falling and we need to step in. The point is it can work, but only in very small doses in vary rare situations. Kaynes never intended his theories to be used all the time, just in those rare cases. All the rest of the times Austrian rules should be used. It is valuable to have a tool to get past the really hard times, but don't get hooked on the smak. I think if Kaynes were alive today he would say the same thing.