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There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
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
Mean
Inflation
Existing
Currency
Basis
Bases
Debauch
Economics
Overturning
Society
Subtler
Means
Surer
More quotes by John Maynard Keynes
It is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.
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Adam Smith and Malthus and Ricardo ! There is something about these three figures to evoke more than ordinary sentiments from us their children in the spirit.
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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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The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
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The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.
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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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How can I adopt a creed which, preferring the mud to the fish, exalts the boorish proletariat above the bourgeois and the intelligentsia who, with whatever faults, are the quality in life and surely carry the seeds of all human advancement?
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The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump but in abolishing slumps and thus keeping us permanently in a quasi-boom.
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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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This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
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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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Like all his type, Newton was wholly aloof from women.
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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
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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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It would not be foolish to contemplate the possibility of a far greater progress still.
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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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Newton was not the first of the age of reason, he was the last of the magicians.
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Obstinacy can bring only a penalty and no reward.
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Ideas shape the course of history.
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