"The Economic Consequences of Mr. Churchill" (1925)
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This state of affairs is not an inevitable consequence of a decreased capacity to produce wealth. I see no reason why, with good management, real wages need be reduced on the average. It is the consequence of a misguided monetary policy.
— John Maynard Keynes
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "This state of affairs is not an inevitable consequence of a decreased capacity to produce wealth. I see no reason why, with good management, real wages need be reduced on the average. It is the consequence of a misguided monetary policy." in the context of ""The Economic Consequences of Mr. Churchill" (1925)" to mean that wisdom is timeless.
Source: Wikiquote: "John Maynard Keynes" (Quotes, 1930s, Essays in Persuasion (1931))
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
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About John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes of Tilton (5 June 1883 – 21 April 1946) was a British economist whose ideas, known as Keynesian economics, had a major impact on modern economic and political theory and on many governments' fiscal policies.
About John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes of Tilton (5 June 1883 – 21 April 1946) was a British economist whose ideas, known as Keynesian economics, had a major impact on modern economic and political theory and on many governments' fiscal policies.
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