Keynesian economics at a minimum provides a license for welfare state measures and other government efforts towards redistribution of wealth. The license is the faith that macroeconomic stabilization and prosperity are compatible with a wide range of social policies, that modern capitalism and democracy are robust enough to prosper and progress while being humane and equitable. That faith conflicts with the visions of extreme Right and Left, which agree that extremes of wealth and poverty, of security and insecurity, are indispensable to the functioning of capitalism. Keynesian policies helped to confound those dismal prophecies in the past; I think they will do so again.
James TobinRelated topics
compatible confound democracy economics enough extreme faith government indispensable insecurity left license minimum modern past poverty progress prosperity range right security social state think wealth welfare while wide keynesian capitalism functioning stabilization redistributionRelated quotes
We can take a just pride in the great contribution to the common cause by all those who owe allegiance to the British Crown... In this great contest we are all engaged in a single enterprise. Soldiers, sailors, and airmen from the United Kingdom, from the British Commonwealth and the Empire, from the United States, and from many nations are found fighting side by side in many ocean and theatres of war. They know that they are engaged in a common service and are inspired by a common faith. In the Atlantic Charter the United Nations have declared the faith that is in them. Against the false gods of cruelty, hatred, and domination they have proclaimed their gospel of freedom, justice, and social security.
Clement Attlee
In 1935 I was appointed leading artist of the All-Soviet Agricultural Exhibition. I opposed the errors of the first leader, and resigned. Afterwards, while I was still in the sanatorium, I took over the design of the main building. The design of the main hall has been done according to my idea until now. From 1931 on, I was leading artist-architect of the 'Permanent Building Exhibition'. But as the years went by, my health deteriorating, I had less and less energy left for this type of commission, such as the realization of large-scale exhibitions. I still succeeded in designing the project for the museum-exhibition of the Ministry of 'Social Security'.
El Lissitsky
In these circumstances, we would undertake a solemn obligation to help the Iraqi people build a new Iraq at peace with itself and its neighbors. The Iraqi people deserve to be lifted from insecurity and tyranny, and freed to determine for themselves the future of their country. We envisage a unified Iraq with its territorial integrity respected. All the Iraqi people - its rich mix of Sunni and Shiite Arabs, Kurds, Turkomen, Assyrians, Chaldeans, and all others - should enjoy freedom, prosperity, and equality in a united country. We will support the Iraqi people's aspirations for a representative government that upholds human rights and the rule of law as cornerstones of democracy.
George W. Bush
Recently in our country, there has been a steadily increasing number of people who dislike work and pursue leisure and extravagance. Almost everywhere individuals and organizations are fighting with resultant loss of energy that is needed for positive action. In order to save them from this situation, a principle of judo, based on the maximum efficiency concept should be applied as one aspect of modern society and as a natural result of the application of the principle of maximum efficiency, a mutual welfare and prosperity is believed to be the only effective way to ease and neutralize the forces among these individuals and organizations.
Jigoro Kano
Progress in these policies can only be brought about if a considerable degree of consensus exists within our country. I have heard some doubt expressed as to what consensus means...Consensus means deliberately setting out to achieve the widest possible measure of agreement about our national policies, in this particular case about our economic activities, in the pursuit of a better standard of living for our people and a happier and more prosperous country. If there be any doubt about the desirability of working towards such a consensus let us recognize that every successful industrialized country in the modern world has been working on such a basis.
Edward Heath
