“Correctly anticipating the rapid growth of living standards, moreover, Keynes predicted that within a century people's material wants would be satiated, and so per capita consumption would stop growing. People would work less, but only because their need for income, and more important their desire for it, was less. And then the challenge to society would be the management of unprecedented voluntary leisure. This was a popular 1930s theme--think of Huxley's Brave New World--but it underestimated the ability of business to create new wants, and new goods and services to fulfill them.”

— Richard A. Posner

How I Became a Keynesian (2009)

Adopted from Wikiquote. Last update June 3, 2021. History

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Richard A. Posner 11

United States federal judge 1939

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“What is scarce is money. The lack of money to spend on goods is what keeps the unemployed resources from producing more goods. Work, moreover, instead of being a curse, is desired more than anything else because the alternative is not enjoyment of leisure but the suffering of unemployment and deprivation. Of course, if people could get income without they would not object too much (although their self-respect in feeling they are useful members in society who are earning their income is too easily underestimated). But it is only by finding work they can obtain the necessary income they need.”

Abba Lerner (1903–1982) American economist

On the causes of unemployment (1951, pg.147-48) http://papers.ssrn.com/sol3/papers.cfm?abstract_id=174849

“I lived in the first century of world wars.
Most mornings I would be more or less insane.”

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“What Orwell feared were those who would ban books. What Huxley feared was that there would be no reason to ban a book, for there would be no one who wanted to read one. Orwell feared those who would deprive us of information. Huxley feared those who would give us so much that we would be reduced to passivity and egoism. Orwell feared that the truth would be concealed from us. Huxley feared the truth would be drowned in a sea of irrelevance. Orwell feared we would become a captive culture. Huxley feared we would become a trivial culture, preoccupied with some equivalent of the feelies, the orgy porgy, and the centrifugal bumblepuppy. As Huxley remarked in Brave New World Revisited, the civil libertarians and rationalists who are ever on the alert to oppose tyranny "failed to take into account man's almost infinite appetite for distractions". In 1984, Huxley added, people are controlled by inflicting pain. In Brave New World, they are controlled by inflicting pleasure. In short, Orwell feared that what we hate will ruin us. Huxley feared that what we love will ruin us.”

Neil Postman (1931–2003) American writer and academic

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“Law is necessary, but in a more functional culture, it would presumably be less necessary than it is now, because people would know what to do.”

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“I drink much less than most people think, and I think much more than most people would believe.”

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“There are few things it is more important to learn than how to live on little and be therewith content: for the less we need what is without, the more leisure have we to live within.”

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“The inescapable conclusion is that the direct contribution of man-hours and capital accumulation would hardly account for more than a tenth of the rate of growth in per capita product — and probably less. The large remainder must be assigned to an increase in efficiency in the productive resources, or the effects of changing arrangements, or to the impact of technological change, or to all three”

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Source: Modern economic growth,(1966), p. 81

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“Decoupling growth from environmental degradation is the number one challenge facing governments in a world of rising numbers of people, rising incomes, rising consumption demands and the persistent challenge of poverty alleviation.”

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“It would seem fair to estimate that certainly not less than 14 per cent of the people, in prosperous times (1903), and probably not less than 20 per cent in bad times (1897), are in distress. The estimate is a conservative one…”

Robert Hunter (author) (1874–1942) American sociologist, author, golf course architect

Source: Poverty (1912), p. 25

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Richard A. Posner 11

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