In simple terms, the quote suggests that society needs to continue pretending that undesirable traits or behaviors are actually beneficial, even though this pretense may seem contrary to what is morally right. For instance, practices such as greed and caution might be seen as necessary for economic stability, despite their often negative connotations.
On a deeper level, Keynes implies that societal norms often prioritize pragmatism over idealism. He argues that in the short term, qualities like selfishness and financial prudence are crucial because they can lead to immediate benefits such as economic growth or personal gain. However, this perspective contrasts sharply with the long-term goals of fairness and ethical behavior, which he suggests might take a hundred years more to become truly valued. This quote encapsulates Keynes's belief in the importance of practical measures for maintaining stability and prosperity, even if they conflict with moral ideals.
John Maynard Keynes was an influential British economist who lived from 1883 to 1946. He is best known for his theories on economic interventionism and his work during the Great Depression, where he advocated for government spending as a means to combat economic downturns. His ideas had a profound impact on modern economics and continue to be relevant today in discussions about fiscal policy and monetary management.
