The question that we left hanging at the end of the first part of this article is: how can traditional Keynesian economic theory be a better companion to libertarianism than Austrian theory?
As mentioned in the first part, both Keynesianism and Austrian theory are built upon a microeconomic foundation of free markets. That foundation is more pronounced in Austrian literature - or, to be exact, less pronounced in Keynesian literature. The reason for this is that most modern Keynesians are of some sort of some kind of American liberal conviction, which by illogical implication also means that they regard the free market not as a virtuous institution, but as a necessary bad.
Again for illogical reasons they disregard much of the free-market related components of Keynesian economics, giving many modern readers of economic literature - and especially economic-policy material - the impression that Keynes was some kind of collectivist.