Keynes viewed depressions as something that could naturally plague market economies when total spending was insufficient to support full employment. Only with wise oversight could we hope to achieve steady economic growth.
Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.
Between 1909 and 1913, Keynes was the most important defender of British monetary imperialism in India. His faithful defense of the British Empire in those early years allowed him to become the century’s most influential economist after the war.
Keynes's Malthusianism indicates that he had a defective understanding of the division of labor and the law of returns. Beyond that, his population policies reveal the totalitarianism inherent in the Keynesian vision.