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I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

John Maynard Keynes

It is the duty of the long-term investor to endure great losses with equanimity.
JOHN MAYNARD KEYNES

Greatness Investment Loss Responsibility
If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.
JOHN MAYNARD KEYNES

Calculation Human Nature Result Temptation
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
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
JOHN MAYNARD KEYNES

Bank Problem Wealth Yourself
Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
JOHN MAYNARD KEYNES

Description Government Machine Oneself Work
When somebody persuades me I am wrong, I change my mind.
JOHN MAYNARD KEYNES

Change Mindset Myself Persuade Wrong
The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems – the problems of life and of human relations, of creation and behavior and religion.
JOHN MAYNARD KEYNES

Behavior Creation Economics Head Heart Problem Religion
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

Change Code Greatness Importance Moral Social Wealth
Nothing mattered except states of mind, chiefly our own.
JOHN MAYNARD KEYNES

Chief Exception Ourselves State
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.
JOHN MAYNARD KEYNES

Accident Achievement Economist Immortal Writing
For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
JOHN MAYNARD KEYNES

Believe Income Justification Social Wealth
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
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
Experience shows that what happens is always the thing against which one has not made provision in advance.
JOHN MAYNARD KEYNES

Advance Experience Provision
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
JOHN MAYNARD KEYNES

Bank Manager Mercy Rich Yourself
The difficulty lies, not in the new ideas, but in escaping the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.
JOHN MAYNARD KEYNES

Difficult Escape Ideas Lying Mindset Ourselves

I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

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I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

Related Topics

Popular Authors

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