ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 5

of flux with its variegated byproducts,intermitent rediscovery of new inventions continuously to shrug off old products now and then for innovative technology.These fluctuations are inevitable according to Schumpeter who maintained without with economy's stagnation is not negotiable and optimal growth impossible.John Maynard Keynes himself must have learnt about the american experience during the first world war and thereafter was a great student of history.His view was not only controversial and disarmingly different but breathtaking total departure from mainstream orthodoxiesof the period.The disciples of J.B.Says basically held to the viewpoint that consumers tend to spend their income in two ways:either consume it on products andservices,or lend it for use in businesses,that would in turn maximise its value and expand.They assume in balance if consumption demand goes up,investment demand goes down and viceversa.This in either way,would keep total demand high up and then ensures general prosperity of the