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If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
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
Pounds
Investing
Mercy
Million
Thousand
Millions
Bankers
Manager
Bank
More quotes by John Maynard Keynes
The avoidance of taxes is the only intellectual pursuit that still carries any reward.
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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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In truth, the gold standard is already a barbarous relic.
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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.
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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
Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
John Maynard Keynes
Experience shows that what happens is always the thing against which one has not made provision in advance.
John Maynard Keynes
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 .
John Maynard Keynes
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
John Maynard Keynes
A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
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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.
John Maynard Keynes
Ideas, knowledge, art, hospitality, travel - these are things which should in their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible and above all let finance be primarily national.
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If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
John Maynard Keynes
There is no harm in being sometimes wrong - especially if one is promptly found out.
John Maynard Keynes
Newton was not the first of the age of reason, he was the last of the magicians.
John Maynard Keynes
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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Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
John Maynard Keynes
When somebody persuades me I am wrong, I change my mind.
John Maynard Keynes
The duty of saving became nine-tenths of virtue and the growth of the cake the object of true religion.
John Maynard Keynes
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?
John Maynard Keynes
