&gt;The latter statement only contradicts Keynesian economics<p>Uh, no, it contradicts neoclassical economics. Keynesian economics views unemployment as a deficit of aggregate demand and most CERTAINLY does not pretend that it doesn&#x27;t exist.<p>&gt;But although in one sentence he seems to think the Greek experience contradicts Keynesian economics<p>A quick skim suggests he doesn&#x27;t contradict Keynesian economists.<p>Probably he contradicts new keynesian economics somewhere, but then again, New Keynesian is an abortion that would have Keynes turning in his grave.