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Keynesianism and World Inflation

Summary:
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 ...

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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.

Joseph T. Salerno
Joseph T. Salerno is an Austrian School economist in the United States. He is a professor at Pace University, an editor of the Quarterly Journal of Austrian Economics, and Academic Vice President of the Mises Institute. Salerno specializes in monetary theory and policy, comparative economics, and the history of economic thought. Dr. Salerno received his Ph.D. in economics from Rutgers University. His most recent publication is Money: Sound and Unsound.

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