Would a Keynesian say that any economic downturn can be averted in the face of any and all bad investments?
Doubtful. (I should make clear that I’m not a professional economist, and I couldn’t talk math with a Keynesian without doing serious reading first.) To go off the same graph, it does identify the tech bubble in ~2000 as being above the projected line.
My impression of the difference is that in the terms of a crude analogy, the Austrian prefers to rip the band-aid off, and the Keynesian prefers to slowly peel it back.
Doubtful. (I should make clear that I’m not a professional economist, and I couldn’t talk math with a Keynesian without doing serious reading first.) To go off the same graph, it does identify the tech bubble in ~2000 as being above the projected line.
My impression of the difference is that in the terms of a crude analogy, the Austrian prefers to rip the band-aid off, and the Keynesian prefers to slowly peel it back.