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The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
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
Social
Combine
Three
Efficiency
Political
Economics
Problem
Mankind
Things
Liberty
Economic
Justice
Individual
More quotes by John Maynard Keynes
When somebody persuades me I am wrong, I change my mind.
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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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The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.
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When I find new information I change my mind What do you do?
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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.
John Maynard Keynes
Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.
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Too large a proportion of recent mathematical economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.
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Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
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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.
John Maynard Keynes
It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.
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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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The boom, not the slump, is the right time for austerity at the Treasury.
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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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It is Enterprise which build and improves the world's possessions...If Enterprise is afoot, Wealth accumulates whatever may be happening to Thrift and if Enterprise is asleep, Wealth decays, whatever Thrift may be doing.
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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.
John Maynard Keynes
This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
John Maynard Keynes
I wish I'd drunk more champagne.
John Maynard Keynes
... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
John Maynard Keynes
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
John Maynard Keynes
Men will not always die quietly.
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