The Austrian theory of the business cycle has said this since the 1920s. Mises and Rothbard were onto it long before the Keynsians shut them off. The reason the Austrians got shut down is that Hayek, Mises student, thought it was a waste of time to debate Keynes about his economic theories because they were nonsensical according to the sound theories of that time. The only thing Keynes did was support the state and the money printers.