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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.
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
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Lord Keynes
Baron Keynes of Tilton
Liberty
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Marvelous
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More quotes by John Maynard Keynes
[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire.
John Maynard Keynes
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
John Maynard Keynes
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
John Maynard Keynes
For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
John Maynard Keynes
Perhaps it is historically true that no order of society ever perishes save by its own hand.
John Maynard Keynes
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.
John Maynard Keynes
Economics is a very dangerous science.
John Maynard Keynes
It is better to be roughly right than precisely wrong.
John Maynard Keynes
The Economic Problem...the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.
John Maynard Keynes
Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
John Maynard Keynes
If I am right in supposing it to be comparatively easy to make capital-goods so abundant that the marginal efficiency of capital is zero, this may be the most sensible way of gradually getting rid of many of the objectionable features of capitalism.
John Maynard Keynes
The markets are moved by animal spirits, and not by reason.
John Maynard Keynes
When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
John Maynard Keynes
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
The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.
John Maynard Keynes
Everything is always decided for reasons other than the real merits of the case
John Maynard Keynes
One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli.
John Maynard Keynes
Gold is a relic from a time when government's were less trustworthy in these matters (currency debasement) than they are now.
John Maynard Keynes
The forces of the nineteenth century have run their course and are exhausted.
John Maynard Keynes
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.
John Maynard Keynes
