Well, the springboard for our inquiry was a little-known essay by John Maynard Keynes, the great economist, called "Economic Possibilities for Our Grandchildren." It came out in 1930, just when the Western world was sliding into the greatest depression of modern times. Keynes, of course, made his name as the great anti-depression economist, and his name is associated with remedies for slumps.
Building on this thought, he ventured a remarkable prediction. In 100 years' time, he said, Western societies would be producing four or five times as much wealth per head as they were then and needing to work only 15 hours a week to produce it; that is, three hours a day. The lives of Keynes's grandchildren, in other words, would be dominated not by the problem of having to earn their living, but of using the freedom which science and technology had won for them to live (and I quote) "wisely, agreeably, and well."
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FollowBefriend (41)91 threads1,806 comments
Well, there you have it. Liberal politics, fiat currency and central planning is all we need to obtain utopia...I knew it!!
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What would JMK say today... from wiki
Just before his death in 1946, Keynes told Henry Clay, a professor of Social Economics and Advisor to the Bank of England of his hopes that Adam Smith's 'invisible hand' can help Britain out of the economic hole it is in: "I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago."