Keynes was wrong about a lot of his conclusions, but he did come up with the best cure for a depression: print and spend. Of course, you also need to TAX THE HELL out of the rich at the same time.
The abject failure of Reaganomics/Thatcherism is still being denied by Republican and Tory Troglodytes and other Social Darwinists, Main Stream Media, etc. The undoing of The New Deal starting with Nixon has been gradually unravelling the economics and social fabric of the US and world, as the power of money in politics and concentration of wealth are taking us down in a death spiral.
This depends on the definition of Biological resources as exploitable commodities and the definition of wealth in increasingly abstract, unreal terms. Fiat currency is a tool for the concentration of wealth, as is the 'heads oligarchs win/tails consumers lose' logic of limited liability corporations in the much vaunted private sector.
Now the vast majority of wealth in the world as measured by the fake science of economics is in derivatives, which are bets on prices and exchange rates measured in fiat currency. Currency is fake, so is the value of precious metals used as financial instruments. Gold and other metal trading markets are ridiculously inflated, and even at 100X real value are insufficient to serve as an exchange medium.
The Gold Standard is 99% as mythical as US Dollars because you can't eat it, drink it nor breathe it; there isn't enough of it to build houses nor weave clothing; and it can't teach you or cure you. In the end,it was one more story that con artists used to get rich from the false desire for shiny objects.
All of these myths are used to substantiate AUSTERITY, which is one more means of the Plutocrats to squeeze the consumer slaves and wage slaves in the global neo-monarchy. The rightful functions of government include education, health care, and insuring provision of food, shelter, clothing, clean water and clean air - the universal basic necessities (UBN).
Social welfare is essential for maximizing human potential. Artificial scarcity of nutrition, health and safety is an inutile negative incentive for productivity; and further, lack of reward for increased productivity of the last 40 years is an horrific insult to workers.