As you can imagine, Keynes was an enemy of sound money and often referred to the gold standard as a “barbarous relic.” Of course, he was a favorite of government ministers because Keynes’ policy prescription increased their influence and power. When challenged about the long-term consequences of his policies, Keynes offered his most telling response: “In the long run, we are all dead.

Well… isn’t this great! No thoughts for the younger generations…

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