Economic Possibilities for our Grandchildren

In the year 1930, the father of modern macroeconomics, John Maynard Keynes (1883-1946), published an essay in which he postulated that the Great Depression was not a serious issue and that it would eventually resolve itself. He based his theory on historical evidence that compound interest and technological advances improve the standard of living. He optimistically concluded that everyone would be so financially secure within 100 years that they would be able to work far less and instead pursue mindful and moral lives. getAbstract recommends this fascinating essay to economists, policy makers and historians.