0000
Written
1930
Addressed to
1930-1970

[...] we have been expressly evolved by nature-with all our impulses and deepest instincts-for the purpose of solving the economic problem. If the economic problem is solved, mankind will be deprived of its traditional purpose. Will this be a benefit? If one believes at all in the real values of life, the prospect at least opens up the possibility of benefit. Yet I think with dread of the readjustment of the habits and instincts of the ordinary man, bred into him for countless generations, which he may be asked to discard within a few decades.

John Maynard Keynes

Economic Possibilities for our Grandchildren

Annotation

Keynes feared that solving the economic problem would leave humanity purposeless, prone to 'nervous breakdown.' Anne Case and Angus Deaton's research on deaths of despair — rising suicide, overdose, and alcoholism among displaced American workers — reads like the dark footnote to this passage. Keynes imagined the crisis would come from too much leisure; instead it came from the loss of labor's dignity without any corresponding gain in freedom. He was right about the void, wrong about which end of the income ladder would fall into it.

What Actually Happened

Productivity rose enormously between 1930 and 1970, broadly in line with Keynes's expectations, but the economic problem was not 'solved' — inequality persisted, and most workers did not gain significant leisure. By the early twenty-first century, deaths of despair — suicide, overdose, alcoholism — rose sharply among displaced American workers, a crisis of purposelessness that echoed Keynes's fears. The void arrived not from too much leisure but from the loss of labor's dignity.

Related Entries

1980
expires0000

Why did I pick on the next nine years instead of the next 900 for finding a solution to the population crisis? One answer is that the world is rapidly running out of food. And famine, of course, could be one way to reach a death rate solution to the population problem. In fact, the battle to feed humanity is already lost, in the sense that we will not be able to prevent large famines in the next decade or so.

Dr Paul R. EhrlichCulture & Society
1981
expires0000

In twenty years, the USSR will be producing almost twice as much industrial output as is now produced in the entire non socialist world.

The 22nd Congress of the Communist Party of the Soviet UnionCulture & Society
1888
expires0000

At present weapons are being changed every ten years, and even more frequently. In another fifteen years or so, people will use for shooting not rifles but some kind of lightning, some sort of a machine emitting a holocaustal electrical stream. Tell me: what can we invent in this line so as to surprise our neighbors? What if in fifteen years every great power will have secretly stored away one such surprise for any kind of eventuality? Alas, we are merely capable of imitating and purchasing ammunition from others, and—at best—of repairing it at home. To invent such machines we should have to have our own independent, and not purchased, science, not an imported but a free one—one that has taken root in our soil. As yet we do not possess such a science, nor do we even have a purchased one.

Fyodor Mikhailovich DostoevskyCulture & Society