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I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.

John Maynard Keynes

Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.
JOHN MAYNARD KEYNES

Believe Economy Intellectual Man Myself Practice Quite Slave
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
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
This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
JOHN MAYNARD KEYNES

Affair Current Death Guide Ocean Past Run Storm
How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
JOHN MAYNARD KEYNES

Difficult Necessary Pay Performance Service
Successful investing is anticipating the anticipations of others.
JOHN MAYNARD KEYNES

Anticipation Investment Success
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
JOHN MAYNARD KEYNES

Currency Existence Subtle Sure
The boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES

Right Time Treasure
Everything is always decided for reasons other than the real merits of the case.
JOHN MAYNARD KEYNES

Case Decision Reality Reason
But my lord, when we addressed this issue a few years ago, didn’t you argue the other side?” He said, “That’s true, but when I get more evidence I sometimes change my mind. What do you do?
JOHN MAYNARD KEYNES

Address Change Evidence Mindset
We will not have any more crashes in our time.
JOHN MAYNARD KEYNES

Crash Ourselves Time
An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.
JOHN MAYNARD KEYNES

Borrow Ignorance Investor Large Money Operate Propose Safety Scale
Like all his type, Newton was wholly aloof from women.
JOHN MAYNARD KEYNES

Scientist Type Woman
Men will not always die quietly.
JOHN MAYNARD KEYNES

Death Man Quiet
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
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

I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.

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I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.

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