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Obstinacy can bring only a penalty and no reward.
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
Penalty
Penalties
Reward
Rewards
Bring
Obstinacy
More quotes by John Maynard Keynes
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The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.
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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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Men will not always die quietly.
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Everything is always decided for reasons other than the real merits of the case
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When somebody persuades me I am wrong, I change my mind.
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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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I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion.
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The forces of the nineteenth century have run their course and are exhausted.
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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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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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Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
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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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Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
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It is Enterprise which build and improves the world's possessions...If Enterprise is afoot, Wealth accumulates whatever may be happening to Thrift and if Enterprise is asleep, Wealth decays, whatever Thrift may be doing.
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One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli.
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By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
John Maynard Keynes
Most men love money and security more, and creation and construction less, as they get older.
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A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
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The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse but to do those things which at present are not done at all.
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