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When the facts change, I change my mind.

John Maynard Keynes

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
There is nothing so disastrous as a rational investment policy in an irrational world.
JOHN MAYNARD KEYNES

Disaster Investment Rational World
To our generation Einstein has been made to become a double symbol – a symbol of the mind travelling in the cold regions of space, and a symbol of the brave and generous outcast, pure in heart and cheerful of spirit.
JOHN MAYNARD KEYNES

Brave Cheerful Generation Heart Mindset Symbol Traveling
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
JOHN MAYNARD KEYNES

Belief Capital Goodness Greatness Man Wicket
The boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES

Right Time Treasure
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
It is better to be roughly right than precisely wrong.
JOHN MAYNARD KEYNES

Better Choice Right Wrong
Dangerous acts can be done safely in a community which thinks and feels rightly, which would be the way to hell if they were executed by those who think and feel wrongly.
JOHN MAYNARD KEYNES

Act Dangerous Feeling Hell Thinking Wrong
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
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
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.
JOHN MAYNARD KEYNES

Business Contribute Himself Man Society Tolerance
Words ought to be a little wild, for they are the assault of thoughts on the unthinking.
JOHN MAYNARD KEYNES

Mistake Thinking Wild Word
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
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

Act Consistent Optimism Realize
The forces of the nineteenth century have run their course and are exhausted.
JOHN MAYNARD KEYNES

Course Exhaust Focus Run
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

When the facts change, I change my mind.

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When the facts change, I change my mind.

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