The marginal efficiency of capital as well as the rate of interest would both be brought down to zero, and if population was not increasing rapidly society would finally " . . . attain the conditions of a quasi-stationary community where change and progress would result only from changes in technique, taste, population and institutions . . . " Keynes believed this development would bring about the disappearance of the rentier class, something he welcomed : Keynes argued that rentiers incurred no sacrifice for their earnings, and their savings did not lead to productive investments unless aggregate demand in the economy was sufficiently high . " I see, therefore, the rentier aspect of capitalism as a transitional phase which will disappear when it has done its work ."
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