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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

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
I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
JOHN MAYNARD KEYNES

Ideas Interest Myself Power
The principle objectives in life are love, the creation and enjoyment if aesthetic experience, the pursuit of knowledge. Love comes a long way first.
JOHN MAYNARD KEYNES

Experience Knowledge Life Love Objective Principle
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
Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
JOHN MAYNARD KEYNES

Difficult Expectation Investment Scarce
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.
JOHN MAYNARD KEYNES

Easy Economist Ideas Politics Rule World
It is a good thing to make mistakes so long as you’re found out quickly.
JOHN MAYNARD KEYNES

Finding Goodness Mistake Quick Yourself
The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.
JOHN MAYNARD KEYNES

Distribution Economy Income Mistake Outstanding Wealth
Everything is always decided for reasons other than the real merits of the case.
JOHN MAYNARD KEYNES

Case Decision Reality Reason
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
The engine which drives enterprise is not thrift, but profit.
JOHN MAYNARD KEYNES

Drive Profit Thrift
All the political parties alike have their origins in past ideas and not in new ideas and none more conspicuously so than the Marxists .
JOHN MAYNARD KEYNES

Ideas Origin Party Politics
The numeric system was invented to help man to put order in the chaos of the world.
JOHN MAYNARD KEYNES

Chaos Help Invention Man System World
There is no intrinsic reason for the scarcity of capital.
JOHN MAYNARD KEYNES

Capital Reason Scarcity
The treasury could fill old bottles with banknotes and bury them, and leave it to private enterprises on well-tried principles of laissez-faire to dig the notes up again.
JOHN MAYNARD KEYNES

Bury Enterprise Principle Private Treasure
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

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.

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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.

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Popular Authors

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