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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.

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
Long
Believe
Temporarily
Things
Astonishing
Thinking
Foolish
Economics
Particularly
Thinks
Alone

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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.
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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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Men will not always die quietly.
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Newton was not the first of the age of reason, he was the last of the magicians.
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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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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 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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Those, who are strongly wedded to what I shall call 'the classical theory', will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right.
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We will not have any more crashes in our time.
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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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Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.
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The engine which drives enterprise is not thrift, but profit.
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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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When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exulted some of the most distasteful of human qualities into the highest virtues.
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Chess is a cure for headaches.
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Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly corresponds to the average preferences of the competitors as a whole.
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Economics is a very dangerous science.
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How can I adopt a creed which, preferring the mud to the fish, exalts the boorish proletariat above the bourgeois and the intelligentsia who, with whatever faults, are the quality in life and surely carry the seeds of all human advancement?
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It is ideas, not vested interests, which are dangerous for good or evil.
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Too large a proportion of recent mathematical economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.
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