KEYNES, POST‐KEYNESIANISM, AND THE BISHOPS' PASTORAL LETTER
Abstract
The new rich of the nineteenth century were not brought up to large expenditures, and preferred the power which investment gave them to the pleasures of immediate consumption. In fact, it was precisely the inequality in the distribution of wealth which made possible those vast accumulations of fixed wealth and of capital improvements which distinguished that age from all others. … The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably. [Sic!] — John Maynard Keynes, The Economic Consequences of the Peace (1919/20; Chap. II, sec. III), “Europe before the War,” “The Psychology of Society.”
Citation
Nitsch, T.O. (1990), "KEYNES, POST‐KEYNESIANISM, AND THE BISHOPS' PASTORAL LETTER", Humanomics, Vol. 6 No. 1, pp. 35-61. https://doi.org/10.1108/eb006100
Publisher
:MCB UP Ltd
Copyright © 1990, MCB UP Limited