Keynesianism still fails when the spending is defense spending.
“Keynesianism still fails when the spending is defense spending.”
No doubt, and military budgets are not sacred. I am OK with some levels of subsidy for wholly domestic production capacity of -necessary- military equipment however.
For centuries Rome and the successor state of Byzantium maintained entirely government owned military factories and horse breeding operations to ensure they never had -any- dependence on foreign or usurious civilian sources. A modernized version of that is not a bad idea.