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
believe thinking long
It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
believe book writing
I believe myself to be writing a book on economic theory which will largely revolutionize - not, I suppose, at once but in the course of the next ten years - the way the world thinks about economic problems.
believe average america
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
believe thinking investing
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
running believe thinking
[Silvio] Gesell's chiefwork is written in cool and scientific terms, although it is run through by a more passionate and charged devotion to social justice than many think fit for a scholar. I believe that the future will learn more from the spirit of Gesell then from that of Marx.
believe income politics
For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
believe spirit i-believe
I believe that the future will learn more from the spirit of Gesell than from that of Marx .
mistake believe thinking
As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one's risk by spreading too much between enterprises about which one knows little and has no reason for special confidence. . . . One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.
believe men air
Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back
owe problem
If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.
avarice fair foul gods hundred longer ourselves precaution useful
For at least another hundred years we must preÂtend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still.
best capitalist continuing destroy process secretly system wealth
The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
insightful investing
It is better to be roughly right than precisely wrong.
real digging-a-hole filled-up
If the Treasury were to fill old bottles with bank-notes, bury them at suitable depths in disused coal-mines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again (the right to do so being obtained, of course, by tendering for leases of the note-bearing territory), there need be no more unemployment and, with the help of repercussions, the real income of the community, and its capital wealth, would probably become a good deal greater than it actually is.