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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
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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
Came
Afternoon
Raining
Morning
Investing
Organised
Sell
Farmer
Back
Sells
Farming
Would
Market
Farm
Like
Rain
Farms
Sun
Farmers
Wise
Stock
More quotes by John Maynard Keynes
Once doubt begins it spreads rapidly.
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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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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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But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
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Galton's eccentric, sceptical, observing, flashing, cavalry-leader type of mind led him eventually to become the founder of the most important, significant and, I would add, genuine branch of sociology which exists, namely eugenics.
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It is better to be roughly right than precisely wrong.
John Maynard Keynes
Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
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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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The avoidance of taxes is the only intellectual pursuit that still carries any reward.
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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
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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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Economics is a very dangerous science.
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The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
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What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!
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The markets are moved by animal spirits, and not by reason.
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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?
John Maynard Keynes
The boom, not the slump, is the right time for austerity at the Treasury.
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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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... 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.
John Maynard Keynes
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
John Maynard Keynes
