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The boom, not the slump, is the right time for austerity at the Treasury.

John Maynard Keynes

To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.
JOHN MAYNARD KEYNES

Action Discussion Origin Public Social
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
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
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
Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
JOHN MAYNARD KEYNES

Belief Benefit Capital Man Nasty Reason Work
Logic , like lyrical poetry , is no employment for the middle-aged.
JOHN MAYNARD KEYNES

Age Employment Logic Lyrics Poetry
Everything is always decided for reasons other than the real merits of the case.
JOHN MAYNARD KEYNES

Case Decision Reality Reason
How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
JOHN MAYNARD KEYNES

Difficult Necessary Pay Performance Service
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
There is no intrinsic reason for the scarcity of capital.
JOHN MAYNARD KEYNES

Capital Reason Scarcity
There is nothing so disastrous as a rational investment policy in an irrational world.
JOHN MAYNARD KEYNES

Disaster Investment Rational World
Never in history was there a method devised of such efficacy for setting each country’s advantage at variance with its neighbours’ as the international gold (or, formerly, silver) standard.
JOHN MAYNARD KEYNES

Gold History International Method Standard
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

Destruction Growth Investment Liquid World
Experience shows that what happens is always the thing against which one has not made provision in advance.
JOHN MAYNARD KEYNES

Advance Experience Provision
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
The forces of the nineteenth century have run their course and are exhausted.
JOHN MAYNARD KEYNES

Course Exhaust Focus Run

The boom, not the slump, is the right time for austerity at the Treasury.

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The boom, not the slump, is the right time for austerity at the Treasury.

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