In 2007 (i.e., pre-crash), the IMF reported that average GDP per head in the United States stood at $47,000, and at $46,000 in the UK. In other words, the UK has had a five-fold increase in living standards since 1930 – despite the falsification of two of Keynes’s assumptions: “no major wars” and “no population growth” (in the UK, the population is 33% higher than in 1930).