There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either.

Keynes's contribution was not just to advocate spending government money in the middle of a recession. Every government had done that going back to the days of the Irish potato famine. What he gave to us was a way of thinking about the magnitude and the dimensions and so forth.

I did not throw out my education lightly, but what I was being taught was of no use in explaining what I saw around me. It was the Great Depression.

Paul Samuelson Quotes