Krugman, the committed Keynesian

The Great Recession is all about lagging demand! Thus saith the prophet of tax, borrow and spend:

What Davies doesn’t say is that there’s a good reason Lucas won’t even consider the obvious explanation in terms of a shortfall in demand.

All we need to do, in Krugman's world, is to keep paying people to dig holes and fill them in. After all, said Keynes, it is better than nothing. /snark