An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.
JOHN MAYNARD KEYNESBy 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.
More John Maynard Keynes Quotes
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Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
JOHN MAYNARD KEYNES -
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 -
The duty of “saving” became nine-tenths of virtue and the growth of the cake the object of true religion.
JOHN MAYNARD KEYNES -
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 -
Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.
JOHN MAYNARD KEYNES -
Well, when I get new information, I rethink my position. What, sir, do you do with new information?
JOHN MAYNARD KEYNES -
The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.
JOHN MAYNARD KEYNES -
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 -
Ideas shape the course of history.
JOHN MAYNARD KEYNES -
The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
JOHN MAYNARD KEYNES -
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 -
Ideas, knowledge, art, hospitality, travel – these are things which should in their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible and above all let finance be primarily national.
JOHN MAYNARD KEYNES -
When I find new information I change my mind; What do you do?
JOHN MAYNARD KEYNES -
Perhaps it is historically true that no order of society ever perishes save by its own hand.
JOHN MAYNARD KEYNES -
Economics is a very dangerous science.
JOHN MAYNARD KEYNES