Keynesiansim has to be regarded carefully.
Public spending is not able to foster innovation. A short term stimulus for the economy doesn't solve the longterm problems: Growth is not Development! Only Development increases Efficiency. Somehow it's the problem communism has had. (By the way: liberalism doesn't work either! ;o)
M. Weingarten (Entwicklung und Innovation (2000)*) argues, that Keynesianism is a systems theory  (Keynes named his Theory: "Generel Theory of Employment, Interest and Money " and it is structured like Bertalanffys "General System Theory") and these kind of theories do have problems to cope with evolution, because they modell objects (organisms, economies ...) as if they only seek to keep stable a certain state of development. All disturbence, and as such  "the new" - is categorized as pathologic, to be abandoned. Development is not thinkable with these theories! This is the thesis of Prof. Weingarten.

This needs to be made clearer!

eh ... and please correct my english! ;o) thanks


*
http://www.ea-aw.de/fileadmin/downloads/Graue_Reihe/GR_21_EntwicklungInnovation_052000.pdf
Immediately related elementsHow this works
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Prosperity without Growth »Prosperity without Growth
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Fixing the Economic System? »Fixing the Economic System?
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Keynesian Green New Deal as response to global recession »Keynesian Green New Deal as response to global recession
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Keynesiansim has to be regarded carefully.
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Public spending does produce innovation »Public spending does produce innovation
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