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Revisiting Keynes
Author: Lorenzo Pecchi

ISBN: 9780262515115
Format: Paperback
Number Of Pages: 232
Published: 15 September 2010
Country of Publication: US
Dimensions (cm): 22.9 x 15.2 x 0.9
Description:
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 "Revisiting Keynes, " leading contemporary economists consider what Keynes got right in his essay--the rise in the standard of living, for example--and what he got wrong--such as a shortened work week and consumer satiation. In so doing, they raise challenging questions about the world economy and contemporary lifestyles in the twenty-first century. The contributors--among them, four Nobel laureates in economics--point out that although Keynes correctly predicted economic growth, he neglected the problems of distribution and inequality. Keynes overestimated the desire ...

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