There is no harm in being sometimes wrong — especially if one is promptly found out. - John Maynard Keynes

Nothing can be settled in isolation. Every use of our resources is at the expense of an alternative use.

Obviously consumption-goods, taken as a whole, have in this sense the longest period of production, since of every productive process they constitute the last stage. Thus if the first impulse towards the increase in effective demand comes from an increase in consumption, the initial elasticity of employment will be further below its eventual equilibrium-level than if the impulse comes from an increase in investment. Moreover,

Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but... in itself it is in many ways extremely objectionable. Our problem is to work out a social organisation which shall be as efficient as possible without offending our notions of a satisfactory way of life.