…I offer this little commentary:<\/p>\n
There are men regarded today as brilliant economists, who deprecate saving and recommend squandering on a national scale as the way of economic salvation; and when anyone points to what the consequences of these policies will be in the long run, they reply flippantly, as might the prodigal son of a warning father: \u201cIn the long run we are all dead.\u201d And such shallow wisecracks pass as devastating epigrams and the ripest wisdom. <\/em><\/p>\n
But the tragedy is that, on the contrary, we are already suffering the long-run consequences of the policies of the remote or recent past. Today is already the tomorrow which the bad economist yesterday urged us to ignore. The long-run consequences of some economic policies may become evident in a few months. Others may not become evident for several years. Still others may not become evident for decades. But in every case those long-run consequences are contained in the policy as surely as the hen was in the egg, the flower in the seed. <\/em><\/p><\/blockquote>\n
This wisdom was offered in 1946<\/a>.\u00a0 Which reminds me of this wisdom<\/a>.
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