Expedience and experimentation: John Maynard Keynes and the politics of time

Abstract

John Maynard Keynes is often seen as the quintessential thinker of the short run, calling on us to focus our intellectual and material resources on the present. This poses an intriguing puzzle in light of Keynes's own influential speculations about the future. I use this seeming tension as an opening into Keynes's politics of time, both as a crucial dimension of his political thought and a contribution to debates about political temporality and intertemporal choice. Keynes's insistence on radical uncertainty translated into a skepticism toward intertemporal calculus as not only morally objectionable but also at risk of undermining actual future possibilities. Instead of either myopic presentism or calculated futurity, Keynes advocated bold experimentation in the present to open up new possibilities for an uncertain future. This points to the need to grapple with how to align multiple overlapping time horizons while appreciating the performativity of competing conceptions of the future.