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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.

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
Government
Apparent
Taxation
Concealed
Fraud
Regulation
Longer
Becomes
Worthlessness
Money
Refrain

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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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All the political parties alike have their origins in past ideas and not in new ideas and none more conspicuously so than the Marxists .
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Most men love money and security more, and creation and construction less, as they get older.
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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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Economics is a very dangerous science.
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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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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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The forces of the nineteenth century have run their course and are exhausted.
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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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Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.
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This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
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We will not have any more crashes in our time.
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Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
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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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Gold is a relic from a time when government's were less trustworthy in these matters (currency debasement) than they are now.
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Obstinacy can bring only a penalty and no reward.
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Once doubt begins it spreads rapidly.
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The study of economics does not seem to require any specialised gifts of an unusually high order.
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