Steve Kates wrote:  
> I don't have a paper but there is an extremely interesting discussion  
> in Hayek's _The Fatal Conceit_ (Routledge 1988, pp 57-58) in which  
> Keynes's statement is shown to be not only economically destructive as a  
> basis for policy but is also deeply amoral, being "a characteristic  
> manifestation of an unwillingness to recognise that morals are concerned  
> with effects in the long run."   
  
  
This of course, is based on a deliberate misreading of Keynes. Keynes   
was arguing against the laissez-faire policy proposals for dealing with   
extreme economic conditions like the great depression. "In the long run   
the economy may correct itself. But we cannot afford to wait. Because by   
then we will be dead." is how I read his comment.  
  
Rod Hay