Take the following as truth: What has made it into the public consciousness--including, alas, that of many policy intellectuals who imagine themselves well informed--is a sort of caricature Keynesianism, the hallmark of which is an uncritical acceptance of the idea that reduced consumer spending is always a bad thing.
Then the following statement: "Quite a few policy intelluctals believe they are informed of many matters." is true, false, or inconclusive?