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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

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

Forecast Investment Marketing Prediction Speculation
To our generation Einstein has been made to become a double symbol – a symbol of the mind travelling in the cold regions of space, and a symbol of the brave and generous outcast, pure in heart and cheerful of spirit.
JOHN MAYNARD KEYNES

Brave Cheerful Generation Heart Mindset Symbol Traveling
I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
JOHN MAYNARD KEYNES

Advantage Greatness Impression Scarce Social Stock
It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.
JOHN MAYNARD KEYNES

Essence Investor Opinion Practice Willing
A speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
JOHN MAYNARD KEYNES

Aware Himself Investor Risk Run
I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.
JOHN MAYNARD KEYNES

Finding Hands Invisible Myself Solution Trying
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

Believe Economy Intellectual Man Myself Practice Quite Slave
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
Whenever you save five shillings you put a man out of work for a day.
JOHN MAYNARD KEYNES

Day Save Work Yourself
It is Enterprise which build and improves the world’s possessions. If Enterprise is afoot, Wealth accumulates whatever may be happening to Thrift; and if Enterprise is asleep, Wealth decays, whatever Thrift may be doing.
JOHN MAYNARD KEYNES

Build Enterprise Improve Possession Sleep Thrift Wealth World
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
It would not be foolish to contemplate the possibility of a far greater progress still.
JOHN MAYNARD KEYNES

Foolish Greatness Possible Progress
Most men love money and security more, and creation and construction less, as they get older.
JOHN MAYNARD KEYNES

Construction Love Man Money Old Security
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.
JOHN MAYNARD KEYNES

Envelope Future Ignorance Object Ourselves Skills Social
The markets are moved by animal spirits, and not by reason.
JOHN MAYNARD KEYNES

Animal Market Move Reason Spirit
I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.
JOHN MAYNARD KEYNES

Capitalism Economy Extreme Manage Object Thinking Wisdom

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.

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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.

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Popular Authors

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