Whenever you save five shillings you put a man out of work for a day. John Maynard Keynes More Quotes by John Maynard Keynes More Quotes From John Maynard Keynes To suppose that safety-first consists in having a small gamble in a large number of different companies where I have no information to reach a good judgment, as compared with a substantial stake in a company where one's information is adequate, strikes me as a travesty of investment policy. John Maynard Keynes safetydifferentnumbers It is impossible that the intention of the entrepreneur who has borrowed in order to increase investment can become effective (except in substitution for investment by other entrepreneurs which would have occurred otherwise) at a faster rate than the public decide to increase their savings John Maynard Keynes entrepreneurphilosophyorder 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. John Maynard Keynes jealouspowerfuloffice The atomic hypothesis which had worked so splendidly in Physics breaks down in Psychics. John Maynard Keynes breaking-downpsychicsphysics I can't remember my telephone number, but I know it was in the high numbers. John Maynard Keynes telephonesnumbersremember In this autumn of 1919, in which I write, we are at the dead season of our fortunes. John Maynard Keynes autumnfortunewriting I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce. John Maynard Keynes scarceadvantagesocial I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment. John Maynard Keynes investingemploymentmean I do not mean to impugn the social justice and social expediency of the redistribution of incomes aimed at by N.I.R.A. and by the various schemes for agricultural restriction. The latter, in particular, I should strongly support in principle. But too much emphasis on the remedial value of a higher price-level as an object in itself may lead to serious misapprehension as to the part which prices can play in the technique of recovery. The stimulation of output by increasing aggregate purchasing power is the right way to get prices up; and not the other way round. John Maynard Keynes recoveryplaymean Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement. John Maynard Keynes agreementphilosophybook [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. John Maynard Keynes runningbelievethinking 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 sacrificechoicesage ...By combining a popular hatred of the class of entrepreneurs with the blow already given to social security by the violent and arbitrary disturbance of contract,... governments are fast rendering impossible a continuance of the social and economic order of the nineteenth century. John Maynard Keynes governmentbloworder The boom, not the slump, is the right time for austerity at the Treasury. John Maynard Keynes slumpsinvestingausterity If we aim deliberately at the impoverishment of Central Europe, vengeance, I dare predict, will not limp. John Maynard Keynes vengeancedareeurope The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. John Maynard Keynes But this long run is a misleading guide to current affairs. In the long run we are all dead. John Maynard Keynes The avoidance of taxes is the only intellectual pursuit that carries any reward. John Maynard Keynes The avoidance of taxes is the only pursuit that carries any reward. John Maynard Keynes 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. John Maynard Keynes
