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I believe myself to be writing a book on economic theory which will largely revolutionize - not, I suppose, at once but in the course of the next ten years - the way the world thinks about economic problems.
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
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Non-Fiction Writer
Philosopher
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Lord Keynes
Baron Keynes of Tilton
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More quotes by John Maynard Keynes
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But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
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Perhaps it is historically true that no order of society ever perishes save by its own hand.
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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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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.
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The key to selecting the winner isn't choosing the face you think is the most beautiful but rather the face other people will pick
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In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another and prefer collective animosities to individual happiness.
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If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.
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Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
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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.
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It would not be foolish to contemplate the possibility of a far greater progress still.
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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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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
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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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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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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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The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
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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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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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