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Measuring Capitalism: Output, Growth and Economic Policy

In: Varieties of Capitalism, Varieties of Approaches

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  • Michael Kitson

Abstract

Over 70 years ago, Keynes (1930) published an essay in optimism predicting that within a century the standard of life in progressive countries would be between four and eight times higher, and the ‘economic problem’ would have effectively been solved. Individuals would then appreciate that: ‘avarice is a vice, that the exaction of usury is a misdemeanour, and the love of money is detestable, that those walk most truly in the paths of virtue and sane wisdom who take least thought for the morrow … We shall honour those who can teach us to pluck the hour and the day virtuously and well, the delightful people who are capable of taking direct enjoyment in things, the lilies of the field who toil not, neither do they spin’ (Keynes 1930).

Suggested Citation

  • Michael Kitson, 2005. "Measuring Capitalism: Output, Growth and Economic Policy," Palgrave Macmillan Books, in: David Coates (ed.), Varieties of Capitalism, Varieties of Approaches, chapter 2, pages 29-46, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52272-5_2
    DOI: 10.1057/9780230522725_2
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