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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.

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
Facts
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Yields
Certain
Confidence
Partly
Based
Existing
Events
Yield
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Consideration
Future
Investing
Prospective
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Considerations

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The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
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I can't remember my telephone number, but I know it was in the high numbers.
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It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
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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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But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
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If I am right in supposing it to be comparatively easy to make capital-goods so abundant that the marginal efficiency of capital is zero, this may be the most sensible way of gradually getting rid of many of the objectionable features of capitalism.
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Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.
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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 forces of the nineteenth century have run their course and are exhausted.
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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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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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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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When my information changes, I alter my conclusions. What do you do, sir?
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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 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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There is no harm in being sometimes wrong - especially if one is promptly found out.
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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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There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
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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.
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Experience shows that what happens is always the thing against which one has not made provision in advance.
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