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It is a good thing to make mistakes so long as you’re found out quickly.

John Maynard Keynes

The markets are moved by animal spirits, and not by reason.
JOHN MAYNARD KEYNES

Animal Market Move Reason Spirit
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
JOHN MAYNARD KEYNES

Bank Manager Mercy Rich Yourself
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

Agreement Move Philosophy Virtual
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
JOHN MAYNARD KEYNES

Economy Humble Level Management Splendid
But the dreams of designing diplomats do not always prosper, and we must trust the future .
JOHN MAYNARD KEYNES

Design Dream Future Prosper Trust
For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
JOHN MAYNARD KEYNES

Believe Income Justification Social Wealth
Obstinacy can bring only a penalty and no reward.
JOHN MAYNARD KEYNES

Obstinate Penalty Reward
When somebody persuades me I am wrong, I change my mind.
JOHN MAYNARD KEYNES

Change Mindset Myself Persuade Wrong
It is better that a man should tyrannize over his bank balance than over his fellow-citizens.
JOHN MAYNARD KEYNES

Balance Bank Better Citizenship Man
I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.
JOHN MAYNARD KEYNES

Employment Evidence Investment Myself Social
Canada is a place of infinite promise. We like the people, and if one ever had to emigrate, this would be the destination, not the U.S.A. The hills, lakes and forests make it a place of peace and repose of the mind, such as one never finds in the U.S.A.
JOHN MAYNARD KEYNES

Destination Infinite Nature Peace Place Promise
Long run is a misleading guide to current affairs. In the long run we are all dead.
JOHN MAYNARD KEYNES

Affair Death Guide
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
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
JOHN MAYNARD KEYNES

Error Excessive Ideas National Power
The principle objectives in life are love, the creation and enjoyment if aesthetic experience, the pursuit of knowledge. Love comes a long way first.
JOHN MAYNARD KEYNES

Experience Knowledge Life Love Objective Principle
When the facts change, I change my mind.
JOHN MAYNARD KEYNES

Change Fact Inspirational Mindset Myself Open
Nor should the argument seem strange that taxation may be so high as to defeat its object, and that, given sufficient time to gather the fruits, a reduction of taxation will run a better chance than an increase of balancing the budget.
JOHN MAYNARD KEYNES

Argument Balance Budget Defeat Fruit Object Strange
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
The duty of “saving” became nine-tenths of virtue and the growth of the cake the object of true religion.
JOHN MAYNARD KEYNES

Growth Object Religion Save True Virtue
Economics is a very dangerous science.
JOHN MAYNARD KEYNES

Dangerous Economics Science
A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him.
JOHN MAYNARD KEYNES

Avoid Bank Blame Dangerous Himself Ruin Sound
Successful investing is anticipating the anticipations of others.
JOHN MAYNARD KEYNES

Anticipation Investment Success
Pyramid-building, earthquakes, even wars may serve to increase wealth, if the education of our statesmen on the principles of the classical economics stands in the way of anything better.
JOHN MAYNARD KEYNES

Build Increase War Wealth
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
$John Maynard Keynes Quote - By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.$

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.
JOHN MAYNARD KEYNES

Detection Man Mistake Reserve Secret
The Economic Problem, the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.
JOHN MAYNARD KEYNES

Economics Nation Necessary Poverty Problem Struggle

It is a good thing to make mistakes so long as you’re found out quickly.

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It is a good thing to make mistakes so long as you’re found out quickly.

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