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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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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
Social
Scarce
Great
Advantages
Increasing
Impressed
Stock
Capital
Cease
Advantage
Ceases

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The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merits, the investment is inevitably too dear and therefore unattractive.
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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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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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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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... 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.
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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 .
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The avoidance of taxes is the only intellectual pursuit that still carries any reward.
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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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Most men love money and security more, and creation and construction less, as they get older.
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The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.
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The forces of the nineteenth century have run their course and are exhausted.
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When I find new information I change my mind What do you do?
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I believe myself to be writing a book on economic theory which will largely revolutionize - not, I suppose, at once but in the course of the next ten years - the way the world thinks about economic problems.
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