Monday, 16 August 2010
The economic policy of post-war governments has followed the principles of Keynesianism. John Maynard's economic ideas are summed up in his famous quip: "In the long run, we're all dead". And indeed, Keynes is now dead and the people he said it to are all dead. And we, who are quick, that is to say alive, are left with the acumulated mess that Keynes' system put off to the never-arriving tomorrow. Thus Schumpeter refers to Keynes' "childless vision".