John Maynard Keynes
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, CB, FBA, was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and is widely considered to be one of the most influential economists of the 20th century and the founder of modern macroeconomics. His ideas are the basis for the school of thought known as Keynesian economics and its...
NationalityEnglish
ProfessionEconomist
Date of Birth5 June 1883
God has arrived. I met him on the 5:15 train.
I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
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.
It would be foolish, in forming our expectations, to attach great weight to matters which are very uncertain.
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.
The atomic hypothesis which had worked so splendidly in Physics breaks down in Psychics.
Logic , like lyrical poetry , is no employment for the middle-aged
All the political parties alike have their origins in past ideas and not in new ideas and none more conspicuously so than the Marxists .
Pyramid-building, earthquakes, even wars may serve to increase wealth, if the education of our statesmen on the principles of the classical economics stands in the way of anything better.
Economic privation proceeds by easy stages, and so long as men suffer it patiently the outside world cares little.
But the dreams of designing diplomats do not always prosper, and we must trust the future .
I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
The duty of "saving" became nine-tenths of virtue and the growth of the cake the object of true religion.
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 .