&gt;According to Keynesians, if real wages fall, employment should rise<p>AGAIN, that&#x27;s what neoclassical economists believe, NOT Keynesians.<p>&gt;According to Varoufakis, &quot;real wages fell by 40% but employment dropped&quot; which is the exact opposite of Keynesian economics.<p>No, that&#x27;s what Keynesian economics predicts which is the exact opposite of what Neoclassical economics predicts.<p>&gt;Another phrase for &quot;Keynesian economics&quot; is &quot;macroeconomic models taught at the best universities&quot;, which is what Varoufakis is criticizing.<p>Neoclassical seems more favored these days despite its atrocious predictive capabilities. This is what Varoufakis was criticizing.