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If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want.
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
Ever
Pits
Realised
Hypothesis
Consistently
Optimistic
Tend
Acting
Whilst
Keep
Pessimistic
More quotes by John Maynard Keynes
When my information changes, I alter my conclusions. What do you do, sir?
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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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The engine which drives enterprise is not thrift, but profit.
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I wish I'd drunk more champagne.
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The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.
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Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
John Maynard Keynes
Economists must leave to Adam Smith alone the glory of the Quarto, must pluck the day, fling pamphlets into the wind, write always sub specie temporis , and achieve immortality by accident, if at all.
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The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
John Maynard Keynes
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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It is Enterprise which build and improves the world's possessions...If Enterprise is afoot, Wealth accumulates whatever may be happening to Thrift and if Enterprise is asleep, Wealth decays, whatever Thrift may be doing.
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Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
John Maynard Keynes
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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If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
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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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Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
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Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
John Maynard Keynes
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.
John Maynard Keynes
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
I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
John Maynard Keynes
Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
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