Meaning: This quote is attributed to John Maynard Keynes, a renowned economist whose ideas and theories have had a profound impact on modern economic thought. In this quote, Keynes critiques the post-war capitalist system, describing it as "decadent," "individualistic," and ultimately unsuccessful. He highlights several key shortcomings of this form of capitalism, including its lack of intelligence, beauty, justice, virtue, and efficacy in delivering the promised benefits.

Keynes was a major figure in the development of macroeconomic theory and is particularly known for his advocacy of government intervention in the economy to mitigate the effects of economic recessions and depressions. His ideas played a significant role in the establishment of the welfare state and the regulation of financial markets in many Western countries during the 20th century.

The context of this quote lies in the aftermath of World War II, a time of significant economic and social upheaval. The war had caused widespread destruction and left many countries in a state of disarray. In this environment, Keynes observed the shortcomings of the prevailing capitalist system and expressed his disillusionment with its ability to address the needs of society effectively.

When Keynes refers to "decadent international but individualistic capitalism," he is likely critiquing the trend of globalized capitalism that emerged in the post-war era. This form of capitalism, characterized by increasing interconnectedness and reliance on international trade and finance, was seen by Keynes as lacking in key virtues and failing to deliver positive outcomes for society as a whole.

By describing this form of capitalism as "individualistic," Keynes may be highlighting its emphasis on individual profit and self-interest over the collective well-being of society. This critique aligns with Keynes's broader advocacy for government intervention in the economy to promote social welfare and address inequalities.

The assertion that post-war capitalism is "not intelligent" and "not beautiful" suggests a broader critique of the values and priorities that underpin the system. Keynes may be implying that the pursuit of profit and economic growth, without consideration for broader social and ethical concerns, leads to an impoverished and unsatisfactory society.

Similarly, when Keynes states that this form of capitalism is "not just" and "not virtuous," he is pointing to the ethical and moral failings of the system. This critique reflects Keynes's belief in the importance of fairness and social responsibility in economic policy and decision-making.

Finally, the assertion that this form of capitalism "doesn't deliver the goods" emphasizes its failure to fulfill its promises of prosperity and well-being for all. Keynes's critique here may be directed at the widening wealth gap, persistent poverty, and economic instability that characterized the post-war period.

In conclusion, John Maynard Keynes's quote offers a thought-provoking critique of the post-war capitalist system, highlighting its ethical, social, and economic failings. His words continue to resonate in contemporary discussions about the role of capitalism in shaping society and the responsibilities of economic systems to promote the well-being of all individuals.