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When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exulted some of the most distasteful of human qualities into the highest virtues.

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
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Ridden
Humans
Shall
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Moral
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Social
Wealth
Morals
Two
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More quotes by John Maynard Keynes

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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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Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly corresponds to the average preferences of the competitors as a whole.
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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 friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
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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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Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
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Obstinacy can bring only a penalty and no reward.
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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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The treasury could fill old bottles with banknotes and bury them..and leave it to private enterprises on well-tried principles of laissez-faire to dig the notes up again.
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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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Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
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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.
John Maynard Keynes
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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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It is better to be roughly right than precisely wrong.
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It is impossible that the intention of the entrepreneur who has borrowed in order to increase investment can become effective (except in substitution for investment by other entrepreneurs which would have occurred otherwise) at a faster rate than the public decide to increase their savings
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In truth, the gold standard is already a barbarous relic.
John Maynard Keynes
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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.
John Maynard Keynes
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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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The markets are moved by animal spirits, and not by reason.
John Maynard Keynes
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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.
John Maynard Keynes