Tuesday, June 22, 2010

98. "The world will not much longer tolerate the unemployment which is inevitably associated with present-day capitalistic individualism."


"The authoritarian state systems of to-day seem to solve the problem of unemployment at the expense of efficiency and of freedom. It is certain that the world will not much longer tolerate the unemployment which, apart from brief intervals of excitement, is associated---and, in my opinion, inevitably associated---with present-day capitalistic individualism. But it may be possible by a right analysis of the problem to cure the disease whilst preserving efficiency and freedom."

From "THE GENERAL THEORY OF EMPLOYMENT, INTEREST AND MONEY" by John Maynard Keynes, BN Publishing

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