Quote

If I am right in supposing it to be comparatively easy to make capital-goods so abundant that the marginal efficiency of capital is zero, this may be the most sensible way of gradually getting rid of many of the objectionable features of capitalism.

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
Getting
Gradually
Easy
Efficiency
May
Sensible
Right
Zero
Objectionable
Many
Capital
Marginal
Way
Features
Comparatively
Make
Goods
Supposing
Capitalism
Abundant

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In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another and prefer collective animosities to individual happiness.
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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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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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When I find new information I change my mind What do you do?
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Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
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The Economic Problem...the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.
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I wish I'd drunk more champagne.
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.
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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.
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The importance of money flows from it being a link between the present and the future.
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It is ideas, not vested interests, which are dangerous for good or evil.
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The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
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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.
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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.
John Maynard Keynes
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The Class war will find me on the side of the educated bourgeoisie.
John Maynard Keynes
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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.
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
John Maynard Keynes
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I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
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.
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Conservatism leads nowhere it satisfies no ideal.
John Maynard Keynes