A major reason Keynesianism now became the policy du jour was that governing neoliberal ideas denied that such a crisis was possible in the first place. So when it happened, it was bound to open up room for ideas that said such events were inevitable if you let markets regulate themselves, which is the Keynesian point. It was hard to publicly defend the logic of self-correcting markets when they were so obviously not self-correcting. Indeed, such traditional standard bearers for the neoclassical cause as Eugene Fama, Edward Prescott, and Robert Barro who had previously enjoyed public prominence found themselves confined to the opinion pages of the Wall Street Journal.

Mark Blyth, Austerity, loc. 158