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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
Politician
Professor
Lord Keynes
Baron Keynes of Tilton
Work
Devices
Men
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Ten
Labor
Device
Liberty
Enables
Economic
Machinery
Politics
Described
Government
Marvelous
More quotes by 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.
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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 can't remember my telephone number, but I know it was in the high numbers.
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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.
John Maynard Keynes
The expected never happens it is the unexpected always.
John Maynard Keynes
When somebody persuades me I am wrong, I change my mind.
John Maynard Keynes
In truth, the gold standard is already a barbarous relic.
John Maynard Keynes
The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.
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.
John Maynard Keynes
Investing is an activity of forecasting the yield over the life of the asset speculation is the activity of forecasting the psychology of the market.
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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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By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
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The markets are moved by animal spirits, and not by reason.
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It is generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges.
John Maynard Keynes
The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse but to do those things which at present are not done at all.
John Maynard Keynes
But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
John Maynard Keynes
A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
John Maynard Keynes
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.
John Maynard Keynes
Perhaps it is historically true that no order of society ever perishes save by its own hand.
John Maynard Keynes
Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.
John Maynard Keynes
