> ... his observation that consumption is prone to drying up.
Now that wording has a certain ring to it (in my ears).
"Consumption prone to drying up"? As if consumption alone were of any value. As if consumption were the foundation of all well being. As if it were something that needs to be tended to like some garden with flower beds.
Sounds more like ideology to me instead of reasoning.
Keynesian isn't a value judgement on whether various sorts of consumption are good. It's firstly a description of how capitalist economies actually work, and secondarily a toolkit of policy based on that description. The focus on demand is primary because how it affects the economy writ large.
In fact, Keynes himself famously thought that would be working 15 hours a week by now instead of...well...wherever all the work is going, some of which I suppose is propping up the consumption you don't approve of.
Now that wording has a certain ring to it (in my ears).
"Consumption prone to drying up"? As if consumption alone were of any value. As if consumption were the foundation of all well being. As if it were something that needs to be tended to like some garden with flower beds.
Sounds more like ideology to me instead of reasoning.