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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.

John Maynard Keynes

The idea behind stamped money is sound.
JOHN MAYNARD KEYNES

Ideas Money Sound Stamp
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
JOHN MAYNARD KEYNES

Citizenship Important Inflation Process Secret
I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion.
JOHN MAYNARD KEYNES

Delusion Forget Goodness Suffering
This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
JOHN MAYNARD KEYNES

Affair Current Death Guide Ocean Past Run Storm
Dangerous acts can be done safely in a community which thinks and feels rightly, which would be the way to hell if they were executed by those who think and feel wrongly.
JOHN MAYNARD KEYNES

Act Dangerous Feeling Hell Thinking Wrong
It would be foolish, in forming our expectations, to attach great weight to matters which are very uncertain.
JOHN MAYNARD KEYNES

Attachment Certain Expectation Fools
Men will not always die quietly.
JOHN MAYNARD KEYNES

Death Man Quiet
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.
JOHN MAYNARD KEYNES

Confidence Enterprise Experience Knowledge Personal
When somebody persuades me I am wrong, I change my mind.
JOHN MAYNARD KEYNES

Change Mindset Myself Persuade Wrong
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
JOHN MAYNARD KEYNES

Direct Knowledge Point Probability True
The boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES

Right Time Treasure
The treasury could fill old bottles with banknotes and bury them, and leave it to private enterprises on well-tried principles of laissez-faire to dig the notes up again.
JOHN MAYNARD KEYNES

Bury Enterprise Principle Private Treasure
Long run is a misleading guide to current affairs. In the long run we are all dead.
JOHN MAYNARD KEYNES

Affair Death Guide
Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught
JOHN MAYNARD KEYNES

Criticism Foundation Inadequate Weight
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.
JOHN MAYNARD KEYNES

Bank Known Myself People Understand University
Well, when I get new information, I rethink my position. What, sir, do you do with new information?
JOHN MAYNARD KEYNES

Information Myself Position Thinking Yourself

When the final result is expected to be a compromise, it is often prudent to start from an extreme position.

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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.

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