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I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

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
Thinking
Probably
Managed
Ways
Alternative
Economic
Efficient
Ends
Alternatives
Many
Extremely
Made
Capitalism
Objectionable
Way
Sight
Attaining
Think
System
Wisely

More quotes by John Maynard Keynes

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The importance of money flows from it being a link between the present and the future.
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Ideas shape the course of history.
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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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If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want.
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I expect to see the State, which is in a position to calculate the marginal efficiency of capital-goods on long views and on the basis of the general social advantage, taking an ever greater responsibility for directly organizing investments.
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Experience shows that what happens is always the thing against which one has not made provision in advance.
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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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All the political parties alike have their origins in past ideas and not in new ideas and none more conspicuously so than the Marxists .
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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.
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The great events of history are often due to secular changes in the growth of population and other fundamental economic causes, which, escaping by their gradual character the notice of contemporary observers, are attributed to the follies of statesmen or the fanaticism of atheists .
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The avoidance of taxes is the only intellectual pursuit that still carries any reward.
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Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
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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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Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
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But my lord, when we addressed this issue a few years ago, didn't you argue the other side? He said, That's true, but when I get more evidence I sometimes change my mind. What do you do?
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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.
John Maynard Keynes
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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
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The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
John Maynard Keynes