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Experience shows that what happens is always the thing against which one has not made provision in advance.

John Maynard Keynes

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.
JOHN MAYNARD KEYNES

Distribution Economy Income Mistake Outstanding Wealth
In the long run we are all dead.
JOHN MAYNARD KEYNES

Death Philosophy Wasted Time
The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
JOHN MAYNARD KEYNES

Avoid Friendship Gold Revolution Wisdom
Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.
JOHN MAYNARD KEYNES

Government Hide Mistake Money
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
Perhaps it is historically true that no order of society ever perishes save by its own hand.
JOHN MAYNARD KEYNES

Hands History Save Society True
Once we allow ourselves to be disobedient to the test of an accountant’s profit, we have begun to change our civilization.
JOHN MAYNARD KEYNES

Allow Beginning Change Civilization Disobedient Profit
There is nothing so disastrous as a rational investment policy in an irrational world.
JOHN MAYNARD KEYNES

Disaster Investment Rational World
The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn’t deliver the goods.
JOHN MAYNARD KEYNES

Capital Deliver Goodness International Success Virtue War
The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merits, the investment is inevitably too dear and therefore unattractive.
JOHN MAYNARD KEYNES

Attractive General Ground Investment Opinion Principle
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
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
JOHN MAYNARD KEYNES

Average Believe Discover Interest Opinion
Economics is a very dangerous science.
JOHN MAYNARD KEYNES

Dangerous Economics Science
Ideas shape the course of history.
JOHN MAYNARD KEYNES

Course History Ideas Shape
Well, when I get new information, I rethink my position. What, sir, do you do with new information?
JOHN MAYNARD KEYNES

Information Myself Position Thinking Yourself
Chess is a cure for headaches.
JOHN MAYNARD KEYNES

Chess Game Head Pain

Experience shows that what happens is always the thing against which one has not made provision in advance.

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Experience shows that what happens is always the thing against which one has not made provision in advance.

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