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Biology Quote by David Roth Singerman

“Keynes concluded that citizens both rich and poor would have to be led gradually out of capitalism, a base and repugnant system of morals. His fellow liberals in the 1920s debated the morality and efficacy of capitalism, as well as the correctness of the view that, as one Liberal politician put…” quote by David Roth Singerman
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““Keynes concluded that citizens both rich and poor would have to be led gradually out of capitalism, a base and repugnant system of morals. His fellow liberals in the 1920s debated the morality and efficacy of capitalism, as well as the correctness of the view that, as one Liberal politician put it, “man’s primary concern is to satisfy in ever ampler degree his physical needs.” For Keynes, this might be human nature, but his entanglement with Bateson and Pearson had immersed him in the notion that biological nature was malleable. Greed would be driven out not just by education but by the eugenic cultivation of “special talents.” It would be replaced by “some of the most sure and certain principles of religion and traditional virtue—that avarice is a vice, that the exaction of usury is a misdemeanour, and the love of money is detestable, that those walk most truly in the paths of virtue and sane wisdom who take least thought for the morrow.” In the meantime, however, Keynes conceded capitalism’s efficacy. In order to improve productivity to the point where everyone’s needs could be easily satisfied, the coming century still demanded devotion to the god of greed. The goal of the next hundred years of capitalism would be its own extirpation.””

David Roth Singerman

About This Quote

Source Book: Keynes and the Moral Economy, David Roth Singerman, 2005

Keynes believed capitalism is morally flawed but temporarily necessary; he imagined a future where its excesses are eliminated through education and moral reform.

In simple terms: Capitalism is seen as a flawed system that must be reformed and eventually replaced.

Key Takeaway

Work toward moral education and systemic change.

Themes

capitalism morality reform human nature economic theory

Mood

critical reflective

Type

analytical philosophical

When to use this quote

  • policy design
  • education reform
  • social activism
  • ethical business practices

Key Concepts

ethical philosophy social engineering economic history

Questions to Reflect On

  • Can moral education truly reshape economic incentives?
  • What alternatives exist if capitalism’s removal is slow?
A Different Perspective

Capitalism’s entrenched structures make rapid transformation difficult.

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