Keynes econmic essay

Essay by jcwcoleUniversity, Bachelor'sA, October 2004

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Mankind now has to deal with the fact he has more leisure time to follow his pursuits that were not available due to trying to get the American Dream. Technological advances in the future will allow for there to be a classless society where everybody will be equal. The pursuit of wealth and material possessions will mean nothing. The tension between society and technology exists when the latter replaces jobs that were done by human hands. Over time these jobs will return since a more skilled workforce will be needed to manage the new technology as it comes along. Also the increases in supply will allow for the decrease in prices, due to the savings in labor and time. The economic problem according to Keynes is solving the problem of scarcity since our forefathers had to deal with survival from day to day to meet their most basic needs.

Then till the Industrial Revolution in Britain did the standard of living for the general population increase enough for them to begin to enjoy a more relaxed lifestyle that only was available to the rich before. That we always fall for something that is too good to be true when it seems that it can benefit us the most. You can see this in our society today from the lottery to all the get rich quick schemes on TV, in the paper, and in the spam in the emails. His predictions of wars fought such as WWII and others were right on the money. He did not foresee the population explosion that would happen in the next fifty years. He also did not foresee the various wars that would happen because of the difference in the political views of the opposing nations. A world where money does not exist I...