John Maynard Keynes Quotes
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Successful investing is anticipating the anticipations of others.
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Markets can remain irrational longer than you can remain solvent.
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The mechanism of reaching equilibrium by means of a rising cost of living, which is vainly pursued by a rising level of wages, will be described in the next chapter. But it is admitted on all hands that this is the worst possible solution.
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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.
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There were endless possibilities, not out of reach.
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When somebody persuades me I am wrong, I change my mind.
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But the dreams of designing diplomats do not always prosper, and we must trust the future.
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The numeric system was invented to help man to put order in the chaos of the world.
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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 standard.
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The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
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I'd rather be vaguely right than precisely wrong.
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God has arrived. I met him on the 5:15 train.
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If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
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Economic privation proceeds by easy stages, and so long as men suffer it patiently the outside world cares little.
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I expect to see the State, which is in a position to calculate the marginal efficiency of capital-goods on long views and on the basis of the general social advantage, taking an ever greater responsibility for directly organizing investments.
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Gold is a relic from a time when government's were less trustworthy in these matters currency debasement than they are now.
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Variant reported in Time magazine, Monday, Feb. 17, 1947
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The atomic hypothesis which had worked so splendidly in Physics breaks down in Psychics.
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Ideas shape the course of history.
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All the political parties alike have their origins in past ideas and not in new ideas - and none more conspicuously so than the Marxists.
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Jevons saw the kettle boil and cried out with the delighted voice of a child; Marshall too had seen the kettle boil and sat down silently to build an engine.
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It is preferable to regard labour, including, of course, the personal services of the entrepreneur, and his assistants, as the sole factor of production, operating in a given environment of technique, natural resources, capital equipment and effective demand. This is why we have been able to take labour as the sole physical unit which we require in our economic system, apart from units of money and of time.
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The avoidance of taxes is the only intellectual pursuit that still carries any reward.
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The study of economics does not seem to require any specialised gifts of an unusually high order.