ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 6

of the economy.Keynes enthused differently tocritiquethem that a fall in investment spending automaticallywould not stimulate growth in consumerspending and could trigger a perenial decline.Infact,he argued both could go down permanently without intervention andcould operate once decline set inas a sort of self replicating phenomenon and to be so deplorable to crash total demand indefinitely.He challenged the classical economists'notion that without intervention such decline would repair itself automatically;a wild wild goose chase.He debunked the notion that supply creates its own demand and that the economy,was determined or dependent on keeping demand high,by all means,fair or foul.This demand side economics was truly revolutionary and was beyond the comprehension of orthodox economists in general and indeed frightening.To be believethat market economy would invariably move towards full employment heconsidered as insanity of economics.This was evidenced in the great depression of 1930s when he introduced