"In the long run we are all dead"
About this Quote
Keynes is dropping a dry little bomb into a debate that had gotten too comfortable with waiting. "In the long run we are all dead" isn’t nihilism; it’s a refusal to let economics hide behind infinity. Classical economists loved the “long run” because it makes any present ugliness look like a temporary inconvenience on the way to equilibrium. Keynes punctures that faith with a blunt biological fact: policies don’t get judged in a timeless lab, they get judged on human timelines, where unemployment, hunger, and political rage accumulate interest.
The line works because it weaponizes common sense against technocratic patience. “Long run” sounds sober, scientific, and morally neutral; Keynes reveals it as an alibi. The deadpan phrasing also performs a kind of intellectual swagger: he’s not pleading for compassion, he’s indicting a worldview that treats people as variables that can be left to “adjust” indefinitely. Subtext: if your model can’t explain mass suffering now, your model isn’t austere, it’s evasive.
Context matters. Keynes was writing in the shadow of the Great Depression, when orthodox prescriptions often amounted to letting wages fall, letting markets clear, and letting the misery burn itself out. His broader argument for active fiscal policy and demand management required a moral and political point: delay isn’t neutral when democracies can fracture before equilibrium arrives. Read that way, the line is less about mortality than urgency. It’s Keynes insisting economics be accountable to time, and to the fact that people don’t live in footnotes.
The line works because it weaponizes common sense against technocratic patience. “Long run” sounds sober, scientific, and morally neutral; Keynes reveals it as an alibi. The deadpan phrasing also performs a kind of intellectual swagger: he’s not pleading for compassion, he’s indicting a worldview that treats people as variables that can be left to “adjust” indefinitely. Subtext: if your model can’t explain mass suffering now, your model isn’t austere, it’s evasive.
Context matters. Keynes was writing in the shadow of the Great Depression, when orthodox prescriptions often amounted to letting wages fall, letting markets clear, and letting the misery burn itself out. His broader argument for active fiscal policy and demand management required a moral and political point: delay isn’t neutral when democracies can fracture before equilibrium arrives. Read that way, the line is less about mortality than urgency. It’s Keynes insisting economics be accountable to time, and to the fact that people don’t live in footnotes.
Quote Details
| Topic | Mortality |
|---|---|
| Source | John Maynard Keynes, A Tract on Monetary Reform (1923). Contains the famous line: "In the long run we are all dead". |
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