The power to become habituated to his surroundings and therefore to no longer be grateful for what is good in it is a marked characteristic of mankind and needs to be fought against if a person is to be happy.
JOHN MAYNARD KEYNESIt is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.
More John Maynard Keynes Quotes
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Most men love money and security more, and creation and construction less, as they get older.
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It is the duty of the long-term investor to endure great losses with equanimity.
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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.
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Everything is always decided for reasons other than the real merits of the case.
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If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.
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The idea behind stamped money is sound.
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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?
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If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
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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.
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Logic , like lyrical poetry , is no employment for the middle-aged.
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It is a good thing to make mistakes so long as you’re found out quickly.
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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.
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The duty of “saving” became nine-tenths of virtue and the growth of the cake the object of true religion.
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The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.
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Economists must leave to Adam Smith alone the glory of the Quarto, must pluck the day, fling pamphlets into the wind, write always sub specie temporis , and achieve immortality by accident, if at all.
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In the long run we are all dead.
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The difficulty lies, not in the new ideas, but in escaping from the old ones.
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The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.
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The power to become habituated to his surroundings is a marked characteristic of mankind.
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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
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I do not know which makes a man more conservative – to know nothing but the present, or nothing but the past.
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The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
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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.
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The glory of the nation you love is a desirable end, – but generally to be obtained at your neighbor’s expense.
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When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.
JOHN MAYNARD KEYNES -
It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.
JOHN MAYNARD KEYNES