Really important insights as always as a reflection on the past. Also as usual, all three bumble and stutter when it comes to real practical solutions, and answers to some futuristic macroeconomic ideas from the audience. "yes these are real issues that need discussing [however I will not address them as I'm still talking about Dynamic Stochastic General Equilibrium models and minor refinements to consumption function for credit-constrained consumers]". In many of Keynes earlier writings, he often suggested that advancements in productivity would allow us to generate enough national income and wealth so that we all, as a society could enjoy more leisure. We've realised those productivity gains as predicted, however we have not increased our leisure. There counter-argument is that, for most people, working is actually a 'hobby'.
Really important insights as always as a reflection on the past. Also as usual, all three bumble and stutter when it comes to real practical solutions, and answers to some futuristic macroeconomic ideas from the audience.
"yes these are real issues that need discussing [however I will not address them as I'm still talking about Dynamic Stochastic General Equilibrium models and minor refinements to consumption function for credit-constrained consumers]".
In many of Keynes earlier writings, he often suggested that advancements in productivity would allow us to generate enough national income and wealth so that we all, as a society could enjoy more leisure. We've realised those productivity gains as predicted, however we have not increased our leisure. There counter-argument is that, for most people, working is actually a 'hobby'.