John Maynard
John Maynard
france illusion economics
He had one illusion - France; and one disillusion - mankind, including Frenchmen.
mistake book historical
The book, as it stands, seems to me to be one of the most frightful muddles I have ever read, with scarcely a sound proposition in it beginning with page 45 [Hayek provided historical background up to page 45; after that came his theoretical model], and yet it remains a book of some interest, which is likely to leave its mark on the mind of the reader. It is an extraordinary example of how, starting with a mistake, a remorseless logician can end up in bedlam.
littles way facts
Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.
men democracy balance
It is better that a man should tyrannize over his bank balance than over his fellow-citizens.
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.
men liberty saving
Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
education economics indifferent
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
wise gold revolution
The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
men cities long
How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
important politics rewards
It is not the ownership of the instruments of production which it is important for the State to assume. If the State is able to determine the aggregate amount of resources devoted to augmenting the instruments and the basic rate of reward to those who own them, it will have accomplished all that is necessary. Moreover, the necessary measures of socialization can be introduced gradually and without a break in the general traditions of society.
newton type aloof
Like all his type, Newton was wholly aloof from women.
mean men people
By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.
people clerks three
I know of only three people who really understand money. A professor at another university. One of my students. And a rather junior clerk at the Bank of England.
war benefits half
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.