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Never enough stuff?

February 7, 2009 Leave a comment Go to comments

How much do we need to live on? Brad Delong reflects on how much we have today in “Our economic appetite.” One would expect that our world of “plenty” would be “enough” but Delong concludes that just isn’t so or perhaps ever to be.

Keynes thought that by today we would have reached a realm of plenty where “We shall once more value ends above means and prefer the good to the useful. We shall honour those who can teach us how to pluck the hour and the day virtuously and well, the delightful people who are capable of taking direct enjoyment in things, the lilies of the field who toil not, neither do they spin.”

But no dice. I look around, and all I can say is: not yet, not for a long time to come, and perhaps never. I’m convinced that everyone I know can easily imagine how to spend up to three times their current income usefully and productively. (It is only beyond three times your current spending that people judge others’ spending as absurd and wasteful.) And everybody I know finds it very difficult to imagine how people can survive on less than one-third of what they spend—never mind that all of our pre-industrial ancestors did so all the time. There is a point at which we say “enough!” to more oat porridge. But all evidence suggests Keynes was wrong: We are simply not built to ever say “enough!” to stuff in general.

We never have enough to satisfy.  Another reason for God.

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