What a silly lead. Keynes didn't "go wrong" in some portion of his theory. Keynes set out to provide politicians with a theoretical framework to take total control of the economy. Everything that went with that was wrong. Alternately his foundational book was, in fact, a student parody that got seized upon by the political class because of its justification for Experts' control of the economy. If it was that, and it reads as if it was, then when he received politicians' acclaim he decided not to cry "HaHa! I fooled you!" like some group of MIT engineering students who get a Paper of tech and sci gobbledygook printed in some prestigious journal, discretion getting thus the better part of valor. Mitigating against that take is the fact that Keynes was a Fabian Socialist who believed in gradual bureaucratic socialization of the economy and society rather than violent revolution.
Keynesianism is simply the “Broken Window Fallacy” writ large.
It’s simply a economic method of advancing socialism that takes advantage of the general populace’s lack of economic education.
“when he received politicians’ acclaim he decided not to cry ‘HaHa! I fooled you!’...Mitigating against that take is the fact that Keynes was a Fabian Socialist who believed in gradual bureaucratic socialization of the economy and society rather than violent revolution.”
Methinks that if he was a socialist (and he was, except when he contradicted himself, which was often), he probably honestly believed what he wrote.