Keynes proposed something like “lifting ourselves by our bootstraps”, but with no point upon which to obtain leverage, we only succeed in pulling the bootstraps off the boots.
The Keynesian principle is somewhat like cutting two feet off the one end of a blanket, and sewing it on the other end, and then claiming “the blanket is now two feet longer”.
A bookkeeping trick, but there is nothing new added to grow the total coverage, and it only fools people for a little while.
It will work once we discover how to be inside the boots whilst we lift.
Keynesians and liberals alike, don’t understand how “Value” is added.
The endless capacity of human ingenuity to take a piece of wood, the skin and hair of an animal, the metals and carbon in the ground and turn it into something that advances the comfort and life span of their fellow Humans.
Everything we have and will ever have comes from the ground and our ability transform it for our benefit.
It’s ALL VALUE ADDED.
Everything !!!
The pie gets bigger.