John Maynard Keynes Quotes
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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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But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
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When somebody persuades me I am wrong, I change my mind.
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The markets are moved by animal spirits, and not by reason.
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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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The numeric system was invented to help man to put order in the chaos of the world.
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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.
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The biggest problem is not to let people accept new ideas, but to let them forget the old ones.
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Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.
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When the facts change, I change my mind.
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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.
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I do not know which makes a man more conservative - to know nothing but the present, or nothing but the past.
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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...
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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 wish I'd drunk more champagne.
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Nothing can preserve the integrity of contact between individuals, except a discretionary authority in the state to revise what has become intolerable. The powers of uninterrupted usury are too great. If the accretions of vested interests were to grow without mitigation for many generations, half the population would be no better than slaves to the other half.
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All production is for the purpose of ultimately satisfying a consumer.
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The expected never happens; it is the unexpected always.
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Long run is a misleading guide to current affairs. In the long run we are all dead.
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Well, when I get new information, I rethink my position. What, sir, do you do with new information?
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The study of economics does not seem to require any specialised gifts of an unusually high order.
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But the dreams of designing diplomats do not always prosper, and we must trust the future.
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Experience shows that what happens is always the thing against which one has not made provision in advance.
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The duty of 'saving' became nine-tenths of virtue and the growth of the cake the object of true religion.