On Keynesianism SIR: In your July-August edition it is obvious that Peter Smith (“Shadow Boxing with Keynesianism”) lives in the shadows. He needs to live in the real world. I am not sure whether he is for or against Keynes because his understanding is somewhat flawed. Keynes is simple to grasp. Demand is the major factor because it starts the process. We could argue “the chicken or the egg”, however my view is that as with the egg, demand is the beginning and supply follows. Mr Smith seems afraid of demand in whatever form. Similarly macroeconomics is almost a dirty…