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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.
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
Little
Economic
Economist
Right
Powerful
Philosophers
World
Wrong
Philosopher
Freedom
Generally
Else
Economics
Political
Indeed
Littles
Understood
Economists
Ideas
Democracy
Ruled
More quotes by John Maynard Keynes
Successful investing is anticipating the anticipations of others.
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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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I wish I'd drunk more champagne.
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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.
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They offer me neither food nor drink - intellectual nor spiritual consolation... [Conservatism] leads nowhere it satisfies no ideal it conforms to no intellectual standard, it is not safe, or calculated to preserve from the spoilers that degree of civilization which we have already attained.
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We will not have any more crashes in our time.
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Those, who are strongly wedded to what I shall call 'the classical theory', will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right.
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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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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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There is no harm in being sometimes wrong - especially if one is promptly found out.
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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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A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
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Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
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The expected never happens it is the unexpected always.
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It is better to be roughly right than precisely wrong.
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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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When I find new information I change my mind What do you do?
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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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The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems - the problems of life and of human relations, of creation and behavior and religion.
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