For my part I think that capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself it is in many ways extremely objectionable.
About this quote
- What does it mean?
- Keynes admits capitalism is the most efficient economic system available but acknowledges it has significant moral and practical flaws.
- In plain terms
- Capitalism works best economically but is not perfect.
- What can you take from it?
- Efficiency does not guarantee moral or social acceptability.
Where it applies
Putting it to work
Questions to consider
- What is the cost of efficiency?
- Can capitalism be ethical?
Another view
It assumes capitalism can be wisely managed without structural flaws.
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