Lord Skidelsky, professor of political economy, politician, writer, prize-winning biographer of J.M. Keynes, syndicated columnist, Russia expert, financial crisis expert
Alda Telles's insight:
This is the bedrock of Keynesian economics. So Ferguson was quite right to say that Keynes discounted the future — but it was not because of homosexuality, it was because of uncertainty. Keynes would have rejected the claim of today’s austerity champions that short-term pain, in the form of budget cuts, is the price we need to pay for long-term economic growth. The pain is real, he would say, while the benefit is conjecture.