"Keynes believed that, by taking account of foreseeable effects, he could build a better world than by submitting to traditional abstract rules. Keynes used the phrase 'conventional wisdom' as a favourite expression of scorn, and, in a revealing autobiographical account (1938/49/72: X, 446), he told how the Cambridge circle of his younger years, most of whose members later belonged to the Bloomsbury Group, 'entirely repudiated a personal liability on us to obey general rules', and how they were 'in the strict sense of the term, immoralists'. He modestly added that, at the age of fifty-five, he was too old to change and would remain an immoralist. This extraordinary man also characteristically justified some of his economic views, and his general belief in a management of the market order, on the ground that 'in the long run we are all dead' (i.e., it does not matter what long-range damage we do; it is the present moment alone, the short run - consisting of public opinion, demands, votes, and all the stuff and bribes of demagoguery - which counts). The slogan that 'in the long run we are all dead' is also a characteristic manifestation of an unwillingness to recognise that morals are concerned with effects in the long run - effects beyond our possible perception - and of a tendency to spurn the learnt discipline of the long view."