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The boom, not the slump, is the right time for austerity at the Treasury.
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
Boom
Treasury
Investing
Right
Time
Slump
Slumps
Austerity
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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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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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The importance of money flows from it being a link between the present and the future.
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I don't feel the least humble before the vastness of the heavens.
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Economics is a very dangerous science.
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The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
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Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.
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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.
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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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[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.
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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.
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Obstinacy can bring only a penalty and no reward.
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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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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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It is better to be roughly right than precisely wrong.
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Perhaps it is historically true that no order of society ever perishes save by its own hand.
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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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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.
John Maynard Keynes
