Over at Grasping Reality: John Maynard Keynes (1934): Is the Economic System Self-Adjusting?

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John Maynard Keynes: Is the Economic System Self-Adjusting?: “I was asked recently to take part in a discussion among English economists on the problem of poverty in the midst of potential plenty…

…which none of us can deny is the outstanding conundrum of today. We all agreed that, whatever the best remedy may be, we must reject all those alleged remedies that consist, in effect, in getting rid of the plenty. It may be true, for various reasons, that as the potential plenty increases, the problem of getting the fruits of it distributed to the great body of consumers will present increasing difficulties. But it is to the analysis and solution of these difficulties that we must direct our minds.

April 13, 2015

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