Nobel-winning economist Paul Krugman recently claimed that John Maynard Keynes — or the general idea of Keynesianism — is winning the battle of opinion in the public sphere.

George Mason University economist and blogger Tyler Cowen responded, playing devil's advocate, and listed a bunch of points that he thinks indicate that Keynesian ideas (liquidity traps are important, austerity during recessions is destructive, fiscal stimulus is useful) might be losing the substantive battle.

Economic blog arguments are fun, so I'll play devil's advocate squared — angel's advocate? — and go through some of Cowen's points.