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In truth, the gold standard is already a barbarous relic.
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
Relics
Standard
Standards
Gold
Already
Truth
Relic
Barbarous
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... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
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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 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 love of money as a possession...will be recognised for what it is, a somewhat disgusting morbidity.
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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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I can't remember my telephone number, but I know it was in the high numbers.
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Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
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It would not be foolish to contemplate the possibility of a far greater progress still.
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The Class war will find me on the side of the educated bourgeoisie.
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Pyramid-building, earthquakes, even wars may serve to increase wealth, if the education of our statesmen on the principles of the classical economics stands in the way of anything better.
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Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
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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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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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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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There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
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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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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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