A Simple Comment on Keynesian Economics

In this paper we will discuss the strength (austerity does not work) and the weakness (Quantitative Easing) of Keynesian economics. We will describe the ergodic hypothesis which plays a critical role in Keynesian economics. We will also try to provide an answer to the question: What role does people, debt and ensemble and time averages play in macroeconomics? The conclusion of the paper is that it was a mistake to abandon the gold standard (which Keynes argued for) because it gave price stability i.e. no fiat money