Whatever the rhetoric, I have long considered the US the advanced world’s most Keynesian nation – the one in which government (including the Federal Reserve) is most expected to generate healthy demand at all times, largely because jobs are, in the US, the only safety net for those of working age.
I’m not sure I agree (or more precisely: your level of agreement with this statement will depend on exactly how you want to define Keynesianism) – but it’s worth pointing out that this is at the least quite consonant with Tyler Cowen’s arguments about Germany. On the one hand, this intellectual convergence could be taken as suggesting that Tyler’s case suggests that German-style social democracy works better than US style Keynesianism (an argument which I think Tyler agrees with, at least with respect to Germans). On the other, it could be taken as suggesting that despite Wolf’s frequent minatory statements about the external consequences of the German model, he believes that it works better in relative terms than US-style Keynesianism in providing internal economic security and political stability. Certainly, he is quite skeptical about the prospects of the US economic system given Republicans’ role as a blocking minority and perhaps majority in the near future (his most provocative suggestion is that Republicans are a perverted species of Keynesians).