I'd like to ask this because I'm too economically illiterate to pick my team in the never-ending war between Keynesians and neoclassicals. So far from what I've read is that Social Democracy leads to inevitable crisis by stifling growth, innovation and investment which is all necessary for capital accumulation under capitalism which eventually results in stagflation.
I think as socialists, we are free to argue with both the neoclassical criticisms of Social Democracy as well as defend it, because both, Neoliberalism and Social Democracy are, are just flavors of capitalism which we reject alltogether. What I like to know is, under a capitalist system, does Social Democracy work?
Also, will Social Democracy in the long term always be subjugated to a "neoliberal shocktherapy" or is this avoidable?