John Maynard Keynes (1936) The General Theory of Employment, Interest and Money Chapter 24. Concluding Notes on the Social Philosophy towards which the.

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John Maynard Keynes (1936) The General Theory of Employment, Interest and Money Chapter 24. Concluding Notes on the Social Philosophy towards which the General Theory might Lead

THE outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes. The bearing of the foregoing theory on the first of these is obvious. But there are also two important respects in which it is relevant to the second. ……………………………………………………………………………………………… ……………………………………………………………………………………………… ………………………………………………………………………………………….. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas. Not, indeed, immediately, but after a certain interval; for in the field of economic and political philosophy there are not many who are influenced by new theories after they are twenty-five or thirty years of age, so that the ideas which civil servants and politicians and even agitators apply to current events are not likely to be the newest. But, soon or late, it is ideas, not vested interests, which are dangerous for good or evil.