Keynes died in 1946, exhausted by his wartime labors. But he had long since demonstrated that neither capitalism nor liberalism would survive very long without one another.
During the long century of constitutional liberalism, from Gladstone to LBJ, Western democracies were led by a distinctly superior class of statesmen.
Selfishness is uncomfortable even for the selfish. Hence the rise of gated communities: the privileged don’t like to be reminded of their privileges – if these carry morally dubious connotations.
Motor scooters appeared on the scene – in France and especially Italy, where the first national motor-scooter rally, held in Rome on November 13th 1949, was followed by an explosive growth in the market for these convenient and reasonably priced symbols of urban freedom and mobility, popular with young people and duly celebrated – the Vespa model in particular – in every contemporary film from or about Italy.
Our disability is discursive: we simply do not know how to talk about these things any more. For the last thirty years, when asking ourselves whether we support a policy, a proposal or an initiative, we have restricted ourselves to issues of profit and loss – economic questions in the narrowest sense. But this is not an instinctive human condition: it is an acquired taste.
The characteristic tone of the ’60s was that of overweening confidence: we knew just how to fix the world. It was this note of unmerited arrogance that partly accounts for the reactionary backlash that followed; if the Left is to recover its fortunes, some modesty will be in order.
The disposition to admire, and almost to worship, the rich and the powerful, and to despite, or, at least, to neglect, persons of poor and mean condition is the great and most universal cause of the corruption of our moral sentiments.
Without idealism, politics is reduced to a form of social accounting, the day-to-day administration of men and things. This too is something that a conservative can survive well enough. But for the Left it is a catastrophe.
Keynes himself had taken the view that capitalism would not survive if its workings were reduced to merely furnishing the wealthy with the means to get wealthier. It was.
Broadly speaking, affairs that were urgently political in Europe aroused only intellectual interest in Britain; while topics of intellectual concern on the Continent were usually confined to academic circles in the UK, if indeed they were noticed at all. The.
Broken eggs make good omelettes. But you cannot build a better society on broken men.
How should we begin to make amends for raising a generation obsessed with the pursuit of material wealth and indifferent to so much else? Perhaps we might start by reminding ourselves and our children that it wasn’t always thus.
In September 1944 there were 7,487,000 foreigners in Germany, most of them there against their will, and they constituted 21 percent of the country’s labour force.
As in the past, therefore, eastern Europeans have had to compete with the West on a markedly uneven playing field, lacking local capital and foreign markets and able to export only low-margin foods and raw materials or else industrial and consumer goods kept cheap thanks to low wages and public subsidy.
People who live in private spaces contribute actively to the dilution and corrosion of the public space. In other words, they exacerbate the circumstances which drove them to retreat in the first place.
It is perhaps worth noting here that even Hayek cannot be held responsible for the ideological simplifications of his acolytes. Like Keynes, he regarded economics as an interpretive science, not amenable to prediction or precision.
If we don’t respect public goods; if we permit or encourage the privatization of public space, resources and services; if we enthusiastically support the propensity of a younger generation to look exclusively to their own needs: then we should not be surprised to find a steady falling-away from civic engagement in public decision-making.
The victory of conservatism and the profound transformation brought about over the course of the next three decades was thus far from inevitable: it took an intellectual revolution.
Why does this matter? Because – as the Greeks knew – participation in the way you are governed not only heightens a collective sense of responsibility for the things government does, it also keeps our rulers honest and holds authoritarian excess at bay.
Why are we so sure that some planning, or progressive taxation, or the collective ownership of public goods, are intolerable restrictions on liberty; whereas closed-circuit television cameras, state bailouts for investment banks ‘too big to fail’, tapped telephones and expensive foreign wars are acceptable burdens for a free people to bear?
Keynes knew perfectly well that fascist economic policy could never have succeeded in the long-run without war, occupation and exploitation.