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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

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

Advance Experience Provision
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
Whenever you save five shillings you put a man out of work for a day.
JOHN MAYNARD KEYNES

Day Save Work Yourself
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
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
The engine which drives enterprise is not thrift, but profit.
JOHN MAYNARD KEYNES

Drive Profit Thrift
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
The key to selecting the winner isn’t choosing the face you think is the most beautiful but rather the face other people will pick
JOHN MAYNARD KEYNES

Face People Selection Thinking Winner
All production is for the purpose of ultimately satisfying a consumer.
JOHN MAYNARD KEYNES

Consumer Purpose Satisfaction
It would be foolish, in forming our expectations, to attach great weight to matters which are very uncertain.
JOHN MAYNARD KEYNES

Attachment Certain Expectation Fools
In truth, the gold standard is already a barbarous relic.
JOHN MAYNARD KEYNES

Gold Standard Truth
Everything is always decided for reasons other than the real merits of the case.
JOHN MAYNARD KEYNES

Case Decision Reality Reason

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.

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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.

Related Topics

Popular Authors

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