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Short-term vs. Long-term Economic Vision

Sofia, 24th February 2022

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In 1930, John Maynard Keynes composed a short essay that took the long view. Keynes imagined what the world would look like a century hence. By 2028, he predicted, the “standard of life” in Europe and the United States would be so improved that no one would need to worry about making money. “Our grandchildren,” Keynes reckoned, would work about three hours a day, and even this reduced schedule would represent more labor than was actually necessary.

John Maynard Keynes, "Economic Possibilities for our Grandchildren" (1930)

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