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NOTE What is the Keynesian approach to business cycles?

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The Keynesian approach is the problem, the pressures are caused by insufficient demand,

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either consumer demand or investment demand, insufficient spending, spending is too little

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for some obscure reason.

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In the Keynesian system, consumers are passive sort of idiots and their spending is determined

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as a certain fraction of their income.

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So the problem is that businessmen are irrational and they're too pessimistic.

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So therefore government has to step in and supply the deficiency in spending.

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The government is sort of like the Santa Claus or whatever, it comes in and corrects everything.

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And the god out of the machine, as they say in Latin, Deus ex machina, that's all wise and all good and benevolent,

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and steps into the supply of efficiency of demand.

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Well, in the Austrian Misesian view, it's just the opposite.

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The problem is government, they begin with, government and its banking, separate banking system,

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Banking System, which creates unsound investments and creates the necessity of recession and

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therefore the only, the best thing the government can do is to lay hands off, to do nothing,

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to allow the recession process to work quickly, because if the government steps in and interferes

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the recession process, it just drags out the recession into a permanent depression.