Kinda, for context, at this time in America, Nixon founded the EPA, proposed a bill for ubi*, and reparations were being discussed. This was without a doubt the high water mark for progressivism in the west. The governments involved were still rabidly anti-communist but they understood that a well off populace was far less likely to become revolutionary.

Keynesian economics is the basis of programs like the New Deal, short version is that during economic busts, the government should reduce taxes and deficit spend on work programs to revive the economy, and during boom times to cut spending and raise taxes to pay off the previous deficit.