Success of capitalism

["Edward J. McKenna" <ejmck@xxxxxxxxxxxx>]

     Herb Gintis states that part of the reason for the success of
capitalism is the "collapse of Keynesianism"(message of
Oct.14,1994).While it is certainly true that policy makers and
politicians are loathe to use the term "Keynesianism",is it really so
clear that Keynesianism itself has collapsed?Cannot a reasonable argument
be made that but for the 150-250 billion dollars a year budget deficits
of the last 15 years,the economy would have experienced far greater
recessionary forces?And,cannot it be said that after a few(unsuccessful)
years of trying to control the economy by controlling monetary
aggregates,the Fed has returned to the (keynesian) policy of controlling
interest rates?If so,wherein lies the collapse of Keynesianism?