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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?

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
Society
Performing
Less
Entirely
Difficult
Receive
Social
Useful
Servants
Long
Necessary
Commonly
Men
City
Services
Pay
Servant
Cities
Proportion

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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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Successful investing is anticipating the anticipations of others.
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Like all his type, Newton was wholly aloof from women.
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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.
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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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The Class war will find me on the side of the educated bourgeoisie.
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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.
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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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Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.
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For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
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When I find new information I change my mind What do you do?
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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 somebody persuades me I am wrong, I change my mind.
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Newton was not the first of the age of reason, he was the last of the magicians.
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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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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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I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
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