Here is a good article on the foolishness of Keynesianism. Not only is this short-term thinking damaging to the future economy it is ultimately damaging to the environment. As the writer notes:
Our unquestioned belief that the world’s resources are the raw materials of our prosperity is a peculiar condition induced by the very narrowing of our temporal horizon which Tocqueville predicted would be a hallmark of modern democracy. Our simultaneous consumption of the world’s goods – including our insatiable thirst for its limited supplies of potable water, our limitless craving for non-renewable quantities of fossil fuel, and our foolish destruction of precious topsoil – along with our production of copious amount of waste, pollution and limitless belief in our own entitlement, is the result of systemic and societal-wide narrowing of our temporal horizon.
Keynesianism, along with other factors, creates the very short-term mind-set that has wrecked our environment. It legitimizes an immediate gratification sensibility that will always work against a sound economic policy as it considers the environment. It is the same philosophy held by the type of father who upon doing some odd jobs and finding money in his pocket decides to stop at the local bar and drink it away rather than going home and putting some in the jar so his kids can have new shoes. Here is a glimpse of a better way.