Epstein Secrets

vailable for business to borrow and invest. But business lacked the “animal spirits” to take such a risk ina slump. We saw the same story after 2008. Keynes’ proposal was for government to do the borrowing and investing instead. That’s part of the “fiscal policy” I described in Chapter 1. Here we tend to

saving is invested, as I use the word, but finds different returns. Saving under the mattress is investment at zero return, and drops output just as Keynes said. Investment at the current average return keeps output unchanged. That’s what Keynes meant. But investment at lower returns lowers output, and c

s of a few thousand dollars to promising new prospects rather than bigger amounts to steady-state projects already proved. Those proved ones included Jane Goodall’s chimp studies at Gombe or Richard Leakey’s digs at Lake Turkana. National Geographic, or the Wenner Gren or World Wildlife or National Science Founda

ods is largely automated, as are many services. What’s left for humans to do? In 1930—long before the advent of computers, let alone AI—John Maynard Keynes wrote, in an essay called “Economic Possibilities for our Grandchildren,” that as a result of improvements in productivity, society could produce all

ellate court decision was that chimps are not to be treated as legal persons since they “do not have duties and responsibilities in society,” despite Jane Goodall’s and others’ claim that they do, and despite arguments that such a decision could be applied to children and the disabled.*° What prevents extension

ods is largely automated, as are many services. What’s left for humans to do? In 1930—long before the advent of computers, let alone AI—John Maynard Keynes wrote, in an essay called “Economic Possibilities for our Grandchildren,” that as a result of improvements in productivity, society could produce all

ellate court decision was that chimps are not to be treated as legal persons since they “do not have duties and responsibilities in society,” despite Jane Goodall’s and others’ claim that they do, and despite arguments that such a decision could be applied to children and the disabled.*° What prevents extension