John Maynard Keynes Quotes - Page 7

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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.

  John Maynard Keynes

  Learning, Power, History

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.5, Atlantic Publishers & Dist

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• 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.

  John Maynard Keynes

  Writing, Wind, Glory

  John Maynard Keynes, Royal Economic Society (Great Britain) (1971). “The Collected Writings of John Maynard Keynes: Essays in biography”

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• When somebody persuades me I am wrong, I change my mind.

  John Maynard Keynes

  Mind

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• This siren, this goat-footed bard, this half human visitor to our age the hag-ridden and enchanted woods of Celtic antiquity. One catches in his company that flavour of final purposelessness, inner responsibility, existence outside or away from our Saxon good and evil, mixed with cunning, remorselessness, love of power.

  John Maynard Keynes

  Responsibility, Evil, Age

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• They offer me neither food nor drink - intellectual nor spiritual consolation... [Conservatism] leads nowhere; it satisfies no ideal; it conforms to no intellectual standard, it is not safe, or calculated to preserve from the spoilers that degree of civilization which we have already attained.

  John Maynard Keynes

  Spiritual, Civilization, Intellectual

  "The Collected Writings of John Maynard Keynes". Book by John Maynard Keynes, Cambridge University Press, volume IX, 1998.

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• I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion.

  John Maynard Keynes

  Suffering, Forget, Share

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• Nevertheless, if we contemplate a society with a somewhat stable wage-unit, with national characteristics which determine the propensity to consume and the preference for liquidity, and with a monetary system which rigidly links the quantity of money to the stock of the precious metals, it will be essential for the maintenance of prosperity that the authorities should pay close attention to the state of the balance of trade. For a favourable balance, provided it is not too large, will prove extremely stimulating; whilst an unfavourable balance may soon produce a state of persistent depression.

  John Maynard Keynes

  Balance, Essentials, Attention

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.307, Atlantic Publishers & Dist

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• It is the long-term investor...who will in practice come in for the most criticism... For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion

  John Maynard Keynes

  Eye, Average, Essence

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• I work for a Government I despise for ends I think criminal.

  John Maynard Keynes

  Thinking, Government, Criminals

  Letter to Duncan Grant, 15 Dec. 1917

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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.

  John Maynard Keynes

  Philosophy, Responsibility, Views

  John Maynard Keynes (1988). “Keynes and Public Policy After Fifty Years: Theories and method”, Edward Elgar Pub

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• A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his fellows, so that no one can really blame him. It is necessarily part of the business of a banker to maintain appearances, and to confess a conventional respectability, which is more than human. Life-long practices of this kind make them the most romantic and the least realistic of men.

  John Maynard Keynes

  Men, Practice, Long

  "The Consequences to the Banks of the Collapse of Money Values" (1931)

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• Dangerous acts can be done safely in a community which thinks and feels rightly, which would be the way to hell if they were executed by those who think and feel wrongly.

  John Maynard Keynes

  Thinking, Community, Would Be

  "The Collected Writings of John Maynard Keynes". Book by John Maynard Keynes, 1980.

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• The principle objectives in life are love, the creation and enjoyment if aesthetic experience, the pursuit of knowledge. Love comes a long way first.

  John Maynard Keynes

  Long, Principles, Way

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• I see, therefore, the rentier aspect of capitalism as a transitional phase which will disappear when it has done its work. And with the disappearance of its rentier aspect much else in it besides will suffer a sea-change. It will be, moreover, a great advantage of the order of events which I am advocating, that the euthanasia of the rentier, of the functionless investor, will be nothing sudden, merely a gradual but prolonged continuance of what we have seen recently in Great Britain, and will need no revolution.

  John Maynard Keynes

  Wisdom, Order, Sea

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.345, Atlantic Publishers & Dist

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• The atomic hypothesis which had worked so splendidly in Physics breaks down in Psychics.

  John Maynard Keynes

  Psychics, Physics, Breaking Down

  "Essays in Biography" by John Maynard Keynes, (p. 286), 1933.

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• I believe that the future will learn more from the spirit of Gesell than from that of Marx .

  John Maynard Keynes

  Believe, Spirit, I Believe

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.324, Atlantic Publishers & Dist

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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

  Taken, Animal, Average

  "The General Theory of Employment, Interest and Money". Book by John Maynard Keynes, book 4, chapter 12, section 7, p. 161, February, 1936.

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• Nothing can preserve the integrity of contact between individuals, except a discretionary authority in the state to revise what has become intolerable. The powers of uninterrupted usury are too great. If the accretions of vested interests were to grow without mitigation for many generations, half the population would be no better than slaves to the other half.

  John Maynard Keynes

  Integrity, Generations, Half

  John Maynard Keynes, Royal Economic Society (Great Britain) (1971). “The collected writings of John Maynard Keynes”

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• Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught

  John Maynard Keynes

  Years, Criticism, Foundation

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.308, Atlantic Publishers & Dist

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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.

  John Maynard Keynes

  Children, Ordinary, Three

  John Maynard Keynes, Royal Economic Society (Great Britain) (1971). “The Collected Writings of John Maynard Keynes: Essays in biography”

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• In truth, the gold standard is already a barbarous relic. All of us, from the Governor of the Bank of England downwards, are now primarily interested in preserving the stability of business, prices, and employment, and are not likely, when the choice is forced on us, deliberately to sacrifice these to outworn dogma, which had its value once, of 3 pounds, 17 shill ings, 10 1/2 pence per ounce. Advocates of the ancient standard do not observe how remote it now is from the spirit and the requirements of the age. A regulated nonmetallic standard has slipped in unnoticed. It exists.

  John Maynard Keynes

  Sacrifice, Choices, Age

  John Maynard Keynes, Royal Economic Society (Great Britain) (1972). “The Collected Writings of John Maynard Keynes: Essays in persuasion”

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• Nor should the argument seem strange that taxation may be so high as to defeat its object, and that, given sufficient time to gather the fruits, a reduction of taxation will run a better chance than an increase of balancing the budget.

  John Maynard Keynes

  Running, Investing, Taxation

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• A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him.

  John Maynard Keynes

  Bankers, Sound, Investing

  "The Consequences to the Banks of the Collapse of Money Values" (1931)

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• The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods.

  John Maynard Keynes

  Beautiful, War, Intelligent

  John Maynard Keynes (1982). “Activities 1931-1939: world crises and policies in Britain and America”

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• To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.

  John Maynard Keynes

  Years, Cities, Bishops

  John Maynard Keynes, Royal Economic Society (Great Britain) (1972). “The Collected Writings of John Maynard Keynes: Essays in persuasion”

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