—J. M. Keynes, “Can Lloyd George do it?” in Essays in Persuasion, 91There is work to do; there are men to do it. Why not bring them together? No, says Mr Baldwin. There are mysterious, unintelligible reasons of high finance and economic theory why this is impossible. It would be most rash. It would probably ruin the country. Abra would rise, cadabra would fall. Your food would cost you more. If everyone were to be employed, it would be just like the war over again. And even if everyone was employed, how can you be perfectly sure that they would still be employed three years hence? If we build houses to cover our heads, construct transport systems to carry our goods, drain our lands, protect our coasts, what will there be left for our children to do? No, cries Mr Baldwin, it would be most unjust. The more work we do now the less there will be left to do hereafter. Unemployment is the lot of man. This generation must take its fair share of it without grousing. For the more the fewer, and the higher the less.
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It may seem very wise to sit back and wag the head. But while we wait, the unused labor of the workless is not piling up to our credit in a bank, ready to be used at some later time. It is running irrevocably to waste; it is irretrievably lost. Every puff of Mr Baldwin’s pipe costs us thousands of pounds.
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