John Maynard Keynes Quotes
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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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Whenever you save five shillings you put a man out of work for a day.
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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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We will not have any more crashes in our time.
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All production is for the purpose of ultimately satisfying a consumer.
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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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Economic privation proceeds by easy stages, and so long as men suffer it patiently the outside world cares little.
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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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For each individual it is a great advantage to retain the rights over the fruits of his labour even though he must put off the enjoyment of them. His personal wealth is thus increased. For that is what wealth is,-command of the right to postponed consumption.
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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.
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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 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.
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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.
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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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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.
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There were endless possibilities, not out of reach.
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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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I believe that the future will learn more from the spirit of Gesell than from that of Marx .
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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.
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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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The numeric system was invented to help man to put order in the chaos of the world.
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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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The power to become habituated to his surroundings is a marked characteristic of mankind.
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I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion.