Write an essay in which you answer the question to what extent Keynes’ predictions came true for modern, Western countries.
Additional Reading Required
You will find the papers by Autor and Stiglitz (without the technical appendix). They are meant to get your thinking going. The article written by Stiglitz (2008) offers conceptual “reflections” on Keynes’ essay. The other background article is by Autor (2015) and asks a related question “Why are there still so many jobs?”, despite fast developments in workplace automation. You should at least use one of them to shape your ideas for this writing assignment. Requirements • Length essay: 700 words (10% deviation allowed); write down the word count at the end of the document (title and reference list are not included in the word count). Essays that do not meet the word count limits will not be graded. • Use in-text references (APA style) • Make a reference list (APA style) • Language: English (international groups)/ Dutch (Dutch groups) • Font: Time New Roman 11 • Line Spacing: 1,5 • Indent whenever you start a new paragraph; no blank lines between paragraphs • Your text should have an appropriate title: short and it should make clear what your text is about. The title is never the same as your central question! Step 1: The introduction • Briefly describe the essence of Keynes’ essay. • Which question will you answer in your essay? You will find it above in the description of the assignment. Step 2: The analysis • Explain first what Keynes meant with mankind’s ‘economic problem’. Relate Keynes’ definition to ‘The Great Economic Problem’ that we studied in the course and the notion of scarcity. Attach to this explanation why people work. What is the reason we work according to Keynes? To what extent can you argue that this is true? Use one of the articles mentioned above to underpin your argument. • What does Keynes say about technological advancements? Argue to what extent he was right. Use the articles mentioned above to underpin your argument. • A third aspect that you should touch upon is access to wealth: make Keynes’s assumptions on the access to wealth explicit. Argue why or why not you agree with these assumptions. If the assumption would not hold, explain how that changes Keynes’ conclusions. Step 3: The conclusion • In the conclusion you should state the main arguments and weigh them up: argue why or why not Keynes was right about the future of work.