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The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.
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
Never
Economy
Capital
Wisdom
Benefit
Politics
Fixed
Equitably
Society
Benefits
Accumulations
Half
Built
Accumulation
War
Mankind
Liberalism
Come
Wealth
Immense
Great
Century
Divided
More quotes by John Maynard Keynes
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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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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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.
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It is ideas, not vested interests, which are dangerous for good or evil.
John Maynard Keynes
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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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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The expected never happens it is the unexpected always.
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Economics is a very dangerous science.
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The numeric system was invented to help man to put order in the chaos of the world.
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Nothing mattered except states of mind, chiefly our own.
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Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement.
John Maynard Keynes
[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
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
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I don't feel the least humble before the vastness of the heavens.
John Maynard Keynes
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 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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There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
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When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exulted some of the most distasteful of human qualities into the highest virtues.
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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.
John Maynard Keynes
It is better to be roughly right than precisely wrong.
John Maynard Keynes
