"Keynesian" Myths and Misunderstandings

As an entrepreneur and capitalist, I read this critique of “Keynesianism” by John Mauldin with great interest.   John is a tremendous macro market thinker and someone who I’ve learned a lot from over the years.  In fact, few people have done more to bring macro views to the masses over the last ten years.  He deserves a lot of credit for that.  But I am afraid I disagree with substantial parts of the article he wrote this weekend.  In fact, I think pieces of it are based on important fundamental misunderstandings of the way our monetary system is designed and functions.