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J.M. Keynes was basically just spitballing when he said that, in an article called "Economic Possibilities for Our Grandchildren". Basically a non-academic arti
by snrplfth 10y ago
J.M. Keynes was basically just spitballing when he said that, in an article called "Economic Possibilities for Our Grandchildren". Basically a non-academic article to make some long-term predictions based on trends of the time. Also this was 1929 and some notable events happened not long after.
- ArkyBeagle 10y agoYeah - it effectively took He Who Shall Remain Godwin-ley Nameless to get all the governments of the world to print enough money for a burst of consumption that ran from 1939 until around... 1973? And that, really, only in the US.
- snrplfth 10y agoWhat I'm saying is that, if someone is predicting a certain amount of economic progress for the year 2000 in 1929, then the fact of the Great Depression and WWII will tend to make predictions more optimistic than reality. Those two events caused a huge amount of damage to the world economy and set it back a long way from where it would otherwise have been a few decades later.
- ArkyBeagle 10y agoWell said.