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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
Mathematician
Non-Fiction Writer
Philosopher
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Lord Keynes
Baron Keynes of Tilton
World
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I work for a Government I despise for ends I think criminal.
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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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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 forces of the nineteenth century have run their course and are exhausted.
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There is no harm in being sometimes wrong - especially if one is promptly found out.
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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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The duty of saving became nine-tenths of virtue and the growth of the cake the object of true religion.
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For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
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Most men love money and security more, and creation and construction less, as they get older.
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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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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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Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
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The expected never happens it is the unexpected always.
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It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.
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It is ideas, not vested interests, which are dangerous for good or evil.
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