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Revisiting Keynes
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Revisiting Keynes: Economic Possibilities for Our Grandchildren

Lorenzo Pecchi and Gustavo Piga

Abstract

In 1931 distinguished economist John Maynard Keynes published a short essay, “Economic Possibilities for Our Grandchildren,” in his collection Essays in Persuasion. In the essay, he expressed optimism for the economic future despite the doldrums of the post-World War I years and the onset of the Great Depression. Keynes imagined that by 2030 the standard of living would be dramatically higher; people, liberated from want and without the desire to consume for the sake of consumption, would work no more than fifteen hours a week, devoting the rest of their time to leisure and culture. In this bo ... More

Keywords: John Maynard Keynes, Essays in Persuasion, Great Depression, standard of living, consumer satiation, world economy, economic growth, inequality, Bloomsbury group, English gentleman

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780262162494
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262162494.001.0001

Authors

Affiliations are at time of print publication.

Lorenzo Pecchi, editor

Gustavo Piga, editor

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