110+ John Maynard Keynes Quotes On Economics, Capitalism And Government Intervention
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Top 10 John Maynard Keynes Quotes (BEST)
- Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
- By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
- When the facts change, I change my mind.
- If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
- The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.
- The boom, not the slump, is the right time for austerity at the Treasury.
- Markets can remain irrational longer than you can remain solvent.
- The markets are moved by animal spirits, and not by reason.
- Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.
- Like Odysseus, the President looked wiser when he was seated.
John Maynard Keynes Image Quotes
The boom, not the slump, is the right time for austerity at the Treasury. — John Maynard Keynes
The markets are moved by animal spirits, and not by reason. — John Maynard Keynes
John Maynard Keynes Short Quotes
- Only with absolute fearlessness can we slay the dragons of mediocrity that invade our gardens.
- In truth, the gold standard is already a barbarous relic.
- Words ought to be a little wild, for they are the assaults of thoughts on the unthinking.
- The avoidance of taxes is the only intellectual pursuit that still carries any reward.
- It is the duty of the long-term investor to endure great losses with equanimity.
- Successful investing is anticipating the anticipations of others.
- Newton was not the first of the age of reason, he was the last of the magicians.
- We will not have any more crashes in our time.
- Most men love money and security more, and creation and construction less, as they get older.
- When I find new information I change my mind; What do you do?
John Maynard Keynes Quotes On Economics
Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back — John Maynard Keynes
If, however, a government refrains from regulations and allows matters to take their course, essential commodities soon attain a level of price out of the reach of all but the rich, the worthlessness of the money becomes apparent, and the fraud upon the public can be concealed no longer. — John Maynard Keynes
The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty. — John Maynard Keynes
The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems -- the problems of life and of human relations, of creation and behavior and religion. — John Maynard Keynes
The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems - the problems of life and of human relations, of creation and behavior and religion. — John Maynard Keynes
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else. — John Maynard Keynes
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid. — John Maynard Keynes
Pyramid-building, earthquakes, even wars may serve to increase wealth, if the education of our statesmen on the principles of the classical economics stands in the way of anything better. — John Maynard Keynes
The great events of history are often due to secular changes in the growth of population and other fundamental economic causes, which, escaping by their gradual character the notice of contemporary observers, are attributed to the follies of statesmen or the fanaticism of atheists . — John Maynard Keynes
I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago. — John Maynard Keynes
John Maynard Keynes Quotes On Capitalism
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone. — John Maynard Keynes
Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes a bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill done. — John Maynard Keynes
The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods. — John Maynard Keynes
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done — John Maynard Keynes
If I am right in supposing it to be comparatively easy to make capital-goods so abundant that the marginal efficiency of capital is zero, this may be the most sensible way of gradually getting rid of many of the objectionable features of capitalism. — John Maynard Keynes
There is no intrinsic reason for the scarcity of capital. — John Maynard Keynes
It is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth. — John Maynard Keynes
The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably. — John Maynard Keynes
I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce. — John Maynard Keynes
I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable. — John Maynard Keynes
John Maynard Keynes Quotes On Ideas
Ideas shape the course of history. — John Maynard Keynes
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy. — John Maynard Keynes
The difficulty lies, not in the new ideas, but in escaping from the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds. — John Maynard Keynes
It is ideas, not vested interests, which are dangerous for good or evil. — John Maynard Keynes
I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas. — John Maynard Keynes
All the political parties alike have their origins in past ideas and not in new ideas and none more conspicuously so than the Marxists . — John Maynard Keynes
The idea behind stamped money is sound. — John Maynard Keynes
It's not bringing in the new ideas that's so hard; it's getting rid of the old ones. — John Maynard Keynes
The biggest problem is not to let people accept new ideas, but to let them forget the old ones. — John Maynard Keynes
Ideas, knowledge, art, hospitality, travel - these are things which should in their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible and above all let finance be primarily national. — John Maynard Keynes
John Maynard Keynes Quotes On Present
The importance of money flows from it being a link between the present and the future. — John Maynard Keynes
I do not know which makes a man more conservative -- to know nothing but the present, or nothing but the past. — John Maynard Keynes
I do not know which makes a man more conservative - to know nothing but the present, or nothing but the past. — John Maynard Keynes
The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all. — John Maynard Keynes
John Maynard Keynes Quotes On Opinion
The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merits, the investment is inevitably too dear and therefore unattractive. — John Maynard Keynes
A study of the history of opinion is a necessary preliminary to the emancipation of the mind. — John Maynard Keynes
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be. — John Maynard Keynes
It is the long-term investor...who will in practice come in for the most criticism... For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion — John Maynard Keynes
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be... — John Maynard Keynes
Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement. — John Maynard Keynes
John Maynard Keynes Quotes On Dead
In the long run we are all dead. — John Maynard Keynes
This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again. — John Maynard Keynes
But this long run is a misleading guide to current affairs. In the long run we are all dead. — John Maynard Keynes
The long run is a misleading guide to current affairs. In the long run we are all dead. — John Maynard Keynes
In this autumn of 1919, in which I write, we are at the dead season of our fortunes. — John Maynard Keynes
John Maynard Keynes Famous Quotes And Sayings
The boom, not the slump, is the right time for austerity at the Treasury. — John Maynard Keynes
When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exulted some of the most distasteful of human qualities into the highest virtues. — John Maynard Keynes
For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still. — John Maynard Keynes
The markets are moved by animal spirits, and not by reason. — John Maynard Keynes
The love of money as a possession-as distinguished from the love of money as a means to the enjoyments and realities of life-will be recognized for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease — John Maynard Keynes
When the final result is expected to be a compromise, it is often prudent to start from an extreme position. — John Maynard Keynes
When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. — John Maynard Keynes
One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli. — John Maynard Keynes
... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware. — John Maynard Keynes
An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money. — John Maynard Keynes
Canada is a place of infinite promise. We like the people, and if one ever had to emigrate, this would be the destination, not the U.S.A. The hills, lakes and forests make it a place of peace and repose of the mind, such as one never finds in the U.S.A. — John Maynard Keynes
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability. — John Maynard Keynes
There is nothing so disastrous as a rational investment policy in an irrational world. — John Maynard Keynes
Economists must leave to Adam Smith alone the glory of the Quarto, must pluck the day, fling pamphlets into the wind, write always sub specie temporis , and achieve immortality by accident, if at all. — John Maynard Keynes
Well, when I get new information, I rethink my position. What, sir, do you do with new information? — John Maynard Keynes
There is no harm in being sometimes wrong - especially if one is promptly found out. — John Maynard Keynes
Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed. — John Maynard Keynes
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future. — John Maynard Keynes
Newton was not the first of the age of reason. He was the last of the magicians, the last of the Babylonians and Sumerians, the last great mind that looked out on the visible and intellectual world with the same eyes as those who began to build our intellectual inheritance rather less than 10,000 years ago. — John Maynard Keynes
The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence. — John Maynard Keynes
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. — John Maynard Keynes
It would not be foolish to contemplate the possibility of a far greater progress still. — John Maynard Keynes
Nothing mattered except states of mind, chiefly our own. — John Maynard Keynes
I wish I'd drunk more champagne. — John Maynard Keynes
Of the maxims of orthodox finance none, surely, is more anti-social than the fetish of liquidity, the doctrine of that it is a positive virtue on the part of investment institutions to concentrate their resources upon the holding of 'liquid' securities. It forgets that there is no such thing as liquidity of investment for the community as a whole. — John Maynard Keynes
The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society. — John Maynard Keynes
It is generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges. — John Maynard Keynes
One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence. — John Maynard Keynes
Education: the inculcation of the incomprehensible into the indifferent by the incompetent. — John Maynard Keynes
The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds. — John Maynard Keynes
Those, who are strongly wedded to what I shall call 'the classical theory', will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right. — John Maynard Keynes
Chess is a cure for headaches. — John Maynard Keynes
Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities. — John Maynard Keynes
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. — John Maynard Keynes
The Economic Problem...the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle. — John Maynard Keynes
Words ought to be a little wild for they are the assaults of thought on the unthinking. — John Maynard Keynes
Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly corresponds to the average preferences of the competitors as a whole. — John Maynard Keynes
He had one illusion - France; and one disillusion - mankind, including Frenchmen. — John Maynard Keynes
I work for a Government I despise for ends I think criminal. — John Maynard Keynes
Logic , like lyrical poetry , is no employment for the middle-aged — John Maynard Keynes
Never in history was there a method devised of such efficacy for setting each country's advantage at variance with its neighbours' as the international gold (or, formerly, silver) standard. — John Maynard Keynes
The introduction of a substantial Government transfer tax on all transactions might prove the most serviceable reform available,with a view to mitigating the predominance of speculation in the United States. — John Maynard Keynes
I should have drunk more Champagne. — John Maynard Keynes
Conservatism leads nowhere; it satisfies no ideal. — John Maynard Keynes
[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire. — John Maynard Keynes
In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another; and prefer collective animosities to individual happiness. — John Maynard Keynes
To suppose that safety-first consists in having a small gamble in a large number of different companies where I have no information to reach a good judgment, as compared with a substantial stake in a company where one's information is adequate, strikes me as a travesty of investment policy. — John Maynard Keynes
Galton's eccentric, sceptical, observing, flashing, cavalry-leader type of mind led him eventually to become the founder of the most important, significant and, I would add, genuine branch of sociology which exists, namely eugenics. — John Maynard Keynes
If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised; whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want. — John Maynard Keynes
A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him. — John Maynard Keynes
To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago. — John Maynard Keynes
By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft. — John Maynard Keynes
How can I adopt a creed which, preferring the mud to the fish, exalts the boorish proletariat above the bourgeois and the intelligentsia who, with whatever faults, are the quality in life and surely carry the seeds of all human advancement? — John Maynard Keynes
They offer me neither food nor drink - intellectual nor spiritual consolation... [Conservatism] leads nowhere; it satisfies no ideal; it conforms to no intellectual standard, it is not safe, or calculated to preserve from the spoilers that degree of civilization which we have already attained. — John Maynard Keynes
Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught — John Maynard Keynes
The principle objectives in life are love, the creation and enjoyment if aesthetic experience, the pursuit of knowledge. Love comes a long way first. — John Maynard Keynes
Like all his type, Newton was wholly aloof from women. — John Maynard Keynes
Life Lessons by John Maynard Keynes
- John Maynard Keynes taught us to think outside the box and to not be afraid of taking risks, as long-term investments can often pay off in the end.
- He also taught us the importance of being able to adapt to changing economic conditions, as well as the need to be able to recognize and take advantage of opportunities when they present themselves.
- Finally, Keynes taught us the importance of having a comprehensive understanding of the economic system and how it works in order to make the best decisions for our own financial future.
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