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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.
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
May
Reason
Intrinsic
Scarcity
Whilst
Capital
Reasons
Land
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The love of money as a possession...will be recognised for what it is, a somewhat disgusting morbidity.
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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 ideas, not vested interests, which are dangerous for good or evil.
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Newton was not the first of the age of reason, he was the last of the magicians.
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Ideas shape the course of history.
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If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
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We will not have any more crashes in our time.
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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 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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Once doubt begins it spreads rapidly.
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The importance of money flows from it being a link between the present and the future.
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The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
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When my information changes, I alter my conclusions. What do you do, sir?
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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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The principle objectives in life are love, the creation and enjoyment if aesthetic experience, the pursuit of knowledge. Love comes a long way first.
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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 generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges.
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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
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Economists must leave to Adam Smith alone the glory of the Quarto, must pluck the day, fling pamphlets into the wind, write always sub specie temporis , and achieve immortality by accident, if at all.
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