In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another; and prefer collective animosities to individual happiness.

John Maynard Keynes

Categorized in : Men Iron Individual Happiness

The difficulty lies, not in the new ideas, but in escaping from the old ones.

John Maynard Keynes

change inspirational lying

Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.

John Maynard Keynes

ubuntu men peace

The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all.

John Maynard Keynes

government important done

The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.

John Maynard Keynes

liberty political justice

Markets can remain irrational longer than you can remain solvent.

John Maynard Keynes

investment investing money

When the facts change, I change my mind.

John Maynard Keynes

business mind facts

Long run is a misleading guide to current affairs. In the long run we are all dead.

John Maynard Keynes

affair running long

It is better to be roughly right than precisely wrong.

John Maynard Keynes

investing insightful

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

John Maynard Keynes

government money power

Investing is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.

John Maynard Keynes

psychology yield business

The master-economist must possess a rare combination of gifts. He must reach a high standard in several different directions and must combine talents not often found together. He must be mathematician, historian, statesman, philosopher - in some degree. He must understand symbols and speak in words. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought. He must study the present in the light ofthe past for the purposes of the future

John Maynard Keynes

light together past

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

John Maynard Keynes

air men believe

Lenin is said to have declared that the best way to destroy the Capitalist System was 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. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.

John Maynard Keynes

government important sight

When my information changes, I alter my conclusions. What do you do, sir?

John Maynard Keynes

conclusion information

Successful investing is anticipating the anticipations of others.

John Maynard Keynes

investing successful wise

Education: the inculcation of the incomprehensible into the indifferent by the incompetent.

John Maynard Keynes

indifferent economics education

For at least another hundred years we must pretend 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.

John Maynard Keynes

liberty littles years

The biggest problem is not to let people accept new ideas, but to let them forget the old ones.

John Maynard Keynes

problem people ideas

All production is for the purpose of ultimately satisfying a consumer.

John Maynard Keynes

satisfying consumers purpose

Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.

John Maynard Keynes

business fun men