How Keynes Viewed the (Great) Crash

I think Keynesian theory is conveniently abused and misused by governments around the world. It gives governments ‘permission’ to spend money on pet projects and lobby groups. Politicians that spend money (regardless of the state of the economy) get re-elected.

Unfortunately, I don’t think this is what Keynes intended. I believe he intended government stimulus to target jobs creation in a more direct manner than what is often done. Stimulus had a time and a place – namely, when the economy was running below capacity and private sector demand for funds was low.

Since we’re all experiencing the interpretations of Keynesian theory right now, I’m going to search out related views and opinions and post them to this site.