The framing is decisive. Keynes's apparatus — demand curves, investment functions, consumption equations — addressed how to manage economies. His philosophy addressed why. The why mattered more. An economy produces; the philosophy determines what the production is for.
Keynes's vision in the concluding chapter is explicit about its rejection of the economic framework as self-sufficient. 'I see us free,' he wrote in the 1930 essay that anticipated the chapter, 'to return to 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 that the love of money is detestable.' He understood these as pathologies of scarcity that would lose their justification when scarcity ended.
The pathologies did not lose their justification. They intensified. The AI transition brings this paradox to terminal expression. The tools now exist to solve, in principle, every remaining production problem. The economic problem, in Keynes's narrow sense, is on the threshold of solution. And the society standing on that threshold shows no sign of being prepared for what lies beyond it.
The social philosophy Keynes called for — adequate to abundance — has never been constructed. Neither the political left, focused on distributing material resources within the existing framework of production, nor the political right, focused on maximizing production within the existing framework of distribution, has offered a coherent vision of what a society organized around something other than the economic problem might look like. The permanent problem Keynes posed remains not merely unanswered but actively suppressed.
The concluding chapter of the General Theory (1936), read alongside 'Economic Possibilities for Our Grandchildren' (1930).
Economics as instrument. The technical apparatus serves a vision of human flourishing, not the reverse.
Scarcity's pathologies. Avarice, usury-worship, and the love of money are adaptations to scarcity that should expire with scarcity.
The unfilled vacancy. No political tradition has constructed the social philosophy adequate to abundance.
AI's terminal challenge. The capability to solve the economic problem arrives without the philosophy to manage the solution.
Institutional expression. Good institutions do not merely function — they express a vision of what human life is for.