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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
Events
Yield
Known
Assume
Upon
Consideration
Future
Investing
Prospective
Less
Assuming
Considerations
Facts
Expectations
Yields
Certain
Confidence
Partly
Based
Existing

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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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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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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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Like all his type, Newton was wholly aloof from women.
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The Class war will find me on the side of the educated bourgeoisie.
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But my lord, when we addressed this issue a few years ago, didn't you argue the other side? He said, That's true, but when I get more evidence I sometimes change my mind. What do you do?
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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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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 political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
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We will not have any more crashes in our time.
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If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
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Nothing mattered except states of mind, chiefly our own.
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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
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Ideas shape the course of history.
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Conservatism leads nowhere it satisfies no ideal.
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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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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
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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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It is ideas, not vested interests, which are dangerous for good or evil.
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