Keynesianism and World Inflation

Keynes believed that all economic problems could be overcome with global inflation. This would bring about a new utopian age in which only social and scientific problems would remain.

In this 38-minute talk, Joseph Salerno discusses Keynes’s beliefs in how economic systems could be manipulated by the state to the point at which scarcity would disappear, and our primary problem would be figuring out how to spend all our free time. How Would this be done? That has always remained unclear since Keynes was apparently untroubled by problems of economic calculation.

From the Keynes and Keynesianism Conference, sponsored by the Mises Institute and held in Harvard Square, Massachusetts; April 28-29, 1989.

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