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Keynes quote

  • 12-03-2009 12:50pm
    #1
    Closed Accounts Posts: 6,609 ✭✭✭


    I'm looking for a quote by keynes in which he was reflecting on the previous few centuries of economic growth, and how a person today (1930's) could pick up a telephone and order good from around the globe, and travel to far off destinations, etc, which was the preserve of kings and nobles just a couple of centuries previous.

    Anyone know it?


Comments

  • Registered Users, Registered Users 2 Posts: 2,164 ✭✭✭cavedave


    related but not the quote you want

    "Industrial progress, mechanical improvement, all of the great wonders of the modern era have meant little to the wealthy. The rich in ancient Greece would have benefited hardly at all from modern plumbing — running servants replaced running water. Television and radio — the patricians of Rome could enjoy the leading musicians and actors in their home, could have the leading artists as domestic retainers. Ready-to-wear clothing, supermarkets — all these and many other modern developments would have added little to their life. They would have welcomed the improvements in transportation and in medicine, but for the rest, the great achievements of western capitalism have rebounded primarily to the benefit of the ordinary person. These achievements have made available to the masses conveniences and amenities that were previously the exclusive prerogative of the rich and powerful."

    * Free to Choose (1980) p.148
    Milton Friedman


  • Closed Accounts Posts: 2,208 ✭✭✭Économiste Monétaire


    Do you mean Keynes on Economic Possibilities for our Grandchildren (1930), sometimes shortened to Keynes on (Projected) Possibilities?

    http://www.econ.yale.edu/smith/econ116a/keynes1.pdf


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