BK on Identity

Doug Henwood dhenwood at panix.com
Sat Mar 3 11:37:07 PST 2001


Dennis Breslin wrote:


>Or to put a spin on
>Keynes' remark that in the long run we're all dead

But, to be fair to Keynes, he used that remark to condemn orthodox economists who thought that a depression will cure itself with time, i.e., in that long run in which we're all dead.

It's from his Tract on Monetary Reform: "But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again."

Doug



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