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By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
John Maynard Keynes
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John Maynard Keynes
Age: 62 †
Born: 1883
Born: June 5
Died: 1946
Died: April 21
Businessperson
Diplomat
Economist
Mathematician
Non-Fiction Writer
Philosopher
Politician
Professor
Lord Keynes
Baron Keynes of Tilton
Money
Economics
Hyperinflation
Part
Citizens
Unobserved
Power
Wealth
Confiscate
Government
Economy
Secretly
Important
Economic
Banking
Poor
Inflation
Society
Continuing
Process
Prosperity
More quotes by John Maynard Keynes
It is impossible that the intention of the entrepreneur who has borrowed in order to increase investment can become effective (except in substitution for investment by other entrepreneurs which would have occurred otherwise) at a faster rate than the public decide to increase their savings
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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.
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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.
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If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
John Maynard Keynes
Newton was not the first of the age of reason, he was the last of the magicians.
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The forces of the nineteenth century have run their course and are exhausted.
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How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
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I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
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Everything is always decided for reasons other than the real merits of the case
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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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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
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The duty of saving became nine-tenths of virtue and the growth of the cake the object of true religion.
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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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The boom, not the slump, is the right time for austerity at the Treasury.
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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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The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump but in abolishing slumps and thus keeping us permanently in a quasi-boom.
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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.
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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 investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.
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Nothing mattered except states of mind, chiefly our own.
John Maynard Keynes
