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...By combining a popular hatred of the class of entrepreneurs with the blow already given to social security by the violent and arbitrary disturbance of contract,... governments are fast rendering impossible a continuance of the social and economic order of the nineteenth century.

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
Government
Security
Investing
Rendering
Century
Entrepreneur
Disturbance
Economic
Popular
Combining
Impossible
Violent
Entrepreneurs
Class
Blow
Contract
Social
Fast
Arbitrary
Given
Hatred
Contracts
Continuance
Order
Already
Governments
Nineteenth

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I work for a Government I despise for ends I think criminal.
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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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What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!
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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.
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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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It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.
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If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.
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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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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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Too large a proportion of recent mathematical economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.
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Conservatism leads nowhere it satisfies no ideal.
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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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The forces of the nineteenth century have run their course and are exhausted.
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