Larry Summers, secrétaire d'Etat au Trésor sous Bill Clinton, et adversaire reconnu des politiques d'austérité, rappelle toutefois que la théorie de Keynes ne s'applique que dans un contexte particulier, et qu'il est impossible de continuellement relancer l'économie :
"Mark Blyth often seems to forget that in a world where the present value of what a government spends must ultimately be constrained by the present value of the revenue it collects, issuing debt is not an alternative to cutting spending or raising taxes but only a way of deferring these painful steps.
The issue here is a broad one. Keynes could have more accurately titled his landmark work. Instead of being a “General” theory it is, in fact, quite specific, explaining how demand-constrained economies in or near liquidity traps operate. Such a distinction would have avoided the misguided application of Keynesian policies that led to the stagflation of the 1970s and discredited Keynesian economics."
Source : http://www.ft.com/intl/cms/s/2/5097537a-a034-11e2-a6e1-00144feabdc0.html#axzz2SWQlBwr4