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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

One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accomplished.
JOHN MAYNARD KEYNES

Accomplishment Blame Fact Master Obstinate Politician
Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.
JOHN MAYNARD KEYNES

Enjoyment Enough Labor Poster Round
The avoidance of taxes is the only intellectual pursuit that still carries any reward.
JOHN MAYNARD KEYNES

Avoid Carry Intellectual Reward Tax
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
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
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
Whenever you save five shillings you put a man out of work for a day.
JOHN MAYNARD KEYNES

Day Save Work Yourself
I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.
JOHN MAYNARD KEYNES

Employment Evidence Investment Myself Social
It is ideas, not vested interests, which are dangerous for good or evil.
JOHN MAYNARD KEYNES

Dangerous Evil Goodness Ideas
The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and thus keeping us permanently in a quasi-boom.
JOHN MAYNARD KEYNES

Cycle Finding Permanent Remedy Right Trade
We will not have any more crashes in our time.
JOHN MAYNARD KEYNES

Crash Ourselves Time
Conservatism leads nowhere; it satisfies no ideal.
JOHN MAYNARD KEYNES

Conservatism Ideal Satisfaction
But the dreams of designing diplomats do not always prosper, and we must trust the future .
JOHN MAYNARD KEYNES

Design Dream Future Prosper Trust
Gold is a relic from a time when government’s were less trustworthy in these matters (currency debasement) than they are now.
JOHN MAYNARD KEYNES

Currency Gold Government Time Trust
There is no harm in being sometimes wrong – especially if one is promptly found out.
JOHN MAYNARD KEYNES

Finding Harm Oneself Wrong
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
JOHN MAYNARD KEYNES

Economy Humble Level Management Splendid
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
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
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 glory of the nation you love is a desirable end, – but generally to be obtained at your neighbor’s expense.
JOHN MAYNARD KEYNES

Desire Glory Love Nation Yourself
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
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
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
Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.
JOHN MAYNARD KEYNES

Convention Failure Teaching Wisdom World
I’d rather be vaguely right than precisely wrong.
JOHN MAYNARD KEYNES

Choice Myself Right Wrong
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
Most men love money and security more, and creation and construction less, as they get older.
JOHN MAYNARD KEYNES

Construction Love Man Money Old Security

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.

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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.

Related Topics

Popular Authors

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