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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.

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
War
Stands
Anything
Economics
May
Serve
Pyramid
Better
Increase
Pyramids
Even
Building
Earthquakes
Way
Wealth
Statesmen
Principles
Classical
Education
Wars

More quotes by John Maynard Keynes

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Economics is a very dangerous science.
John Maynard Keynes
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It is the long-term investor...who will in practice come in for the most criticism... For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion
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It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.
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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.
John Maynard Keynes
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When I find new information I change my mind What do you do?
John Maynard Keynes
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Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
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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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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
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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.
John Maynard Keynes
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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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The markets are moved by animal spirits, and not by reason.
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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
John Maynard Keynes
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The importance of money flows from it being a link between the present and the future.
John Maynard Keynes
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For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
John Maynard Keynes
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I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
John Maynard Keynes
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Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
John Maynard Keynes
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It is impossible that the intention of the entrepreneur who has borrowed in order to increase investment can become effective (except in substitution for investment by other entrepreneurs which would have occurred otherwise) at a faster rate than the public decide to increase their savings
John Maynard Keynes
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The forces of the nineteenth century have run their course and are exhausted.
John Maynard Keynes
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There is no harm in being sometimes wrong - especially if one is promptly found out.
John Maynard Keynes
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[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire.
John Maynard Keynes