this post was submitted on 24 Jul 2023
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Most likely Keynes wasn't thinking of existential threats to our civilization when he came up with that quote.
Right. Not like there was a rise of genocidal fascism going on at the time that threatened the entire continent of Europe, Russia, China, North Africa, the Middle East, and a belt from India to the Philippines. Meanwhile there was an aborted coup in the US, and labor riots with terrorist attacks so awful they should be classified as small revolutions. Plus a failure of economic/agricultural policy that left the majority of the US (by land) covered in a dust bowl sending refugees from Oklahoma to the rest.
Nope, none of this was happening. Let's keep with the short term thinking.