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What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!

John Maynard Keynes

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
If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised; whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want.
JOHN MAYNARD KEYNES

Act Consistent Optimism Realize
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
When somebody persuades me I am wrong, I change my mind.
JOHN MAYNARD KEYNES

Change Mindset Myself Persuade Wrong
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
JOHN MAYNARD KEYNES

Currency Existence Subtle Sure
Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught
JOHN MAYNARD KEYNES

Criticism Foundation Inadequate Weight
Successful investing is anticipating the anticipations of others.
JOHN MAYNARD KEYNES

Anticipation Investment Success
The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
JOHN MAYNARD KEYNES

Crowd Division Employment Nation Provide Spoil
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
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
The power to become habituated to his surroundings is a marked characteristic of mankind.
JOHN MAYNARD KEYNES

Character Habitat Kind Man Power Surround
But the dreams of designing diplomats do not always prosper, and we must trust the future .
JOHN MAYNARD KEYNES

Design Dream Future Prosper Trust
It is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.
JOHN MAYNARD KEYNES

Capital Investment National Production Wealth
Economics is a very dangerous science.
JOHN MAYNARD KEYNES

Dangerous Economics Science
Men will not always die quietly.
JOHN MAYNARD KEYNES

Death Man Quiet
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
Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
JOHN MAYNARD KEYNES

Mistake Thinking Wild Word
The numeric system was invented to help man to put order in the chaos of the world.
JOHN MAYNARD KEYNES

Chaos Help Invention Man System World
It is generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges.
JOHN MAYNARD KEYNES

Expensive Interest Public Stock Market
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
When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
JOHN MAYNARD KEYNES

Compromise Expectation Final Position Result
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.
JOHN MAYNARD KEYNES

Easy Economist Ideas Politics Rule World
It economics is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions.
JOHN MAYNARD KEYNES

Conclusion Drawing Economics Mindset Technique
I believe that the future will learn more from the spirit of Gesell than from that of Marx .
JOHN MAYNARD KEYNES

Believe Future Learning Myself
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
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
In truth, the gold standard is already a barbarous relic.
JOHN MAYNARD KEYNES

Gold Standard Truth

What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!

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What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!

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