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But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.

John Maynard Keynes

The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.
JOHN MAYNARD KEYNES

Confidence Existence Expectation Forecast Known Prediction
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
JOHN MAYNARD KEYNES

Activity Country Development Job
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.
JOHN MAYNARD KEYNES

Believe Economics Problem Revolution Thinking World Writing
Long run is a misleading guide to current affairs. In the long run we are all dead.
JOHN MAYNARD KEYNES

Affair Death Guide
The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems – the problems of life and of human relations, of creation and behavior and religion.
JOHN MAYNARD KEYNES

Behavior Creation Economics Head Heart Problem Religion
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
JOHN MAYNARD KEYNES

Average Believe Discover Interest Opinion
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
But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
JOHN MAYNARD KEYNES

Land Reason Scarcity
The glory of the nation you love is a desirable end, – but generally to be obtained at your neighbor’s expense.
JOHN MAYNARD KEYNES

Desire Glory Love Nation Yourself
We will not have any more crashes in our time.
JOHN MAYNARD KEYNES

Crash Ourselves Time
The boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES

Right Time Treasure
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.
JOHN MAYNARD KEYNES

Believe Fair Investment Management Myself Right Time
The markets are moved by animal spirits, and not by reason.
JOHN MAYNARD KEYNES

Animal Market Move Reason Spirit
The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
JOHN MAYNARD KEYNES

Economy Kind Liberty Man Politics Problem Society
A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
JOHN MAYNARD KEYNES

History Mindset Opinion Study
Experience shows that what happens is always the thing against which one has not made provision in advance.
JOHN MAYNARD KEYNES

Advance Experience Provision

But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.

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But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.

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