Keynes’ 1930s optimism gained credence with the boom during a major world war and the subsequent post-war Golden Age that restored the profitability of capital for a generation. Let’s hope it does not take another world war to confirm the optimism of the modern Keynesians like DeLong . The end of globalisation and the future of capitalism
“The West won the world not by the superiority of its ideas or values or religion (to which few members of other civilizations were converted) but rather by its superiority in applying organized violence. Westerners often forget this fact; non-Westerners never do.” —Samuel P. Huntington, The Clash of Civilisation and the Remaking of the World Order, 1996, p. 51