; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Back to the Future with Keynes"; ; "jannelle.ruswick@mpls.frb.org"; "Ohanian, Lee E."; "Federal Reserve Bank of Minneapolis"; "This article analyzes Keynes’s “Economic Possibilities for our Grandchildren”—an essay presenting Keynes’s views about economic growth into the 21st century—from the perspective of modern growth theory. I find that the implicit theoretical framework used by Keynes to form his expectations about the 21st-century world economy is remarkably close to modern growth models, featuring a stable steady-state growth path driven by technological progress. On the other hand, Keynes’s forecast of employment in the 21st century is far off the mark, reflecting a mistaken view that the income elasticity of leisure is much higher than that of consumption."^^; "2008-07"; "2019-12-13T20:48:38.92272941+00:00"^^; "https://doi.org/10.21034/qr.3212"; ; "Mon Dec 16 17:38:30 2019"; "Article"; "572"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 32, No. 1"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Reprinted from _Revisiting Keynes: Economic Possibilities for Our Grandchildren_, edited by Lorenzo Pecchi and Gustavo Piga, copyright 2008. https://doi.org/10.7551/mitpress/9780262162494.003.0007"^^; ; "Publication" . ; .