Even if you’re not an economist, you’ve likely heard the name Keynes or the word “Keynesian” in recent months. The famous British economist John Maynard Keynes put forth theories during the 1930s that justified government policies involving increased spending to jumpstart a sluggish economy.

In a presentation today to the John Locke Foundation’s Shaftesbury Society, economist Paul Cwik of Mount Olive College explained how Keynes’ theories had to downplay a competing notion from 19th-century French political economist Jean-Baptiste Say.

While Keynes focused on “demand-side” policies that attempted to stimulate consumption of goods and services, Say focused on “supply-side” policies that attempted to boost the savings and investment that boosted production. In a world overconsumption and multitrillion-dollar government debts, Cwik contends Say has been proven correct and Keynes wrong.

In the video clip below, Cwik responds to Keynes’ famous quip: “In the long run, we are all dead.”

2:55 p.m. update: Click play below to watch the full 45:09 presentation.

You’ll find other John Locke Foundation video presentations here.