Economic Possibilities for Our Grandchildren by John Maynard Keynes PDF

By John Maynard Keynes

ISBN-10: 0942153219

ISBN-13: 9780942153217

Scanned from John Maynard Keynes, Essays in Persuasion, ny: W.W.Norton & Co., 1963, pp. 358-373.

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Sample text

The love of money as a possession—as distinguished from the love of money as a means to the enjoyments and realities of life—will be recognised for what it is, a somewhat disgusting morbidity, one of those semicriminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease. All kinds of social customs and economic practices, affecting the distribution of wealth and of economic rewards and penalties, which we now maintain at all costs, however distasteful and unjust they may be in themselves, because they are tremendously useful in promoting the accumulation of capital, we shall then be free, at last, to discard.

But wouldn’t you like to wait just another year and make it four thousand? Just think how rich you’d be! ” “I don’t know as I’d care about being a king,” the man said thoughtfully. “But it dew sound a powerful sight o’ money! ” said the Professor. “There’s good sense in you, I see. ” Sylvie asked as the door closed on the departing creditor. ” the Professor replied emphatically. “He’ll go on doubling it till he dies. ” Perhaps it is not an accident that the race which did most to bring the promise of immortality into the heart and essence of our religions has also done most for the principle of compound interest and particularly loves this most purposive of human institutions.

We shall be able to afford to dare to assess the money-motive at its true value. The love of money as a possession—as distinguished from the love of money as a means to the enjoyments and realities of life—will be recognised for what it is, a somewhat disgusting morbidity, one of those semicriminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease. All kinds of social customs and economic practices, affecting the distribution of wealth and of economic rewards and penalties, which we now maintain at all costs, however distasteful and unjust they may be in themselves, because they are tremendously useful in promoting the accumulation of capital, we shall then be free, at last, to discard.

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Economic Possibilities for Our Grandchildren by John Maynard Keynes


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