Keynesian Economics

1. In part I, Keynes believes people are suffering from the development of a new economics period. He predicts the error of pessimism will be proven wrong in time. The pessimism that people believe violent change is the only way to protect them and the pessimism that people do not care much about economics and social life. He believes that the standard life of a average person has no change due to the combination of the shortage of “important technical inventions” and “failure of capital”. Keynes also gives examples that show the greatest of the foundational investment in England. He states that the impressive economics growth leads to the result of the development in science and technology. At the same time, an economics problem, which is …show more content…
Keynes defines the “economics problem” as “the struggle for subsistence” in his essay. In fact, “economic problem” also refers to the “technological unemployment”. Human being have a problem in finding the way to live and to sacrifice the needs in life. The standard of living is affected by the scarcity of economics. The economic scarcity does become a big problem because the society is lack of the resources to provide goods and services for everyone who needs. This is one of the most important reason that creates the difference between the poor people and the rich people. The solution to solve this problem is to increase the production in order to bring up the new standard of living in society. In the future, Keynes believes that one person needs to bear the obsacle in order to learn to manage his own freedom in economics cares, to have the extra time to other tasks and to enjoy life. He predicts that a person does not spend all the time in making money will always be able to enjoy …show more content…
He believes that the labour in the furture will be minimized. Instead of the needs of the labour, technology will take place. In a near furture, the love of money will be remain as “the enjoyments and realities of life” eventhough the love of money will be no longer possessive. There will be people, who are “unsatisfied purposiveness”, pursue wealth without unquestioning. Those people will tend to feel more sensitive with the far situation in the furture than their own benefit in the present. Besides, he sees us have freedom to return to some of the certain virture and “principle of religion”. Everyone will enjoy life with happiness eventhough the important of economics will still be the priority in society. We do regard people like that today because there are many types of people in the world. Each of them is different from each other in the way they determine the economic world. People have to work to satisfice the needs of living, at the same time, they still have the extra time to enjoy