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I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.

John Maynard Keynes

The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.
JOHN MAYNARD KEYNES

Confidence Existence Expectation Forecast Known Prediction
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
JOHN MAYNARD KEYNES

Different Education Incompetent
The forces of the nineteenth century have run their course and are exhausted.
JOHN MAYNARD KEYNES

Course Exhaust Focus Run
It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.
JOHN MAYNARD KEYNES

Essence Investor Opinion Practice Willing
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
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
JOHN MAYNARD KEYNES

Bank Manager Mercy Rich Yourself
The duty of “saving” became nine-tenths of virtue and the growth of the cake the object of true religion.
JOHN MAYNARD KEYNES

Growth Object Religion Save True Virtue
I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.
JOHN MAYNARD KEYNES

Capitalism Economy Extreme Manage Object Thinking Wisdom
It’s not bringing in the new ideas that’s so hard; it’s getting rid of the old ones.
JOHN MAYNARD KEYNES

Hard Ideas Old Oneself
When the facts change, I change my mind.
JOHN MAYNARD KEYNES

Change Fact Inspirational Mindset Myself Open
The boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES

Right Time Treasure
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
JOHN MAYNARD KEYNES

Bank Problem Wealth Yourself
It is better that a man should tyrannize over his bank balance than over his fellow-citizens.
JOHN MAYNARD KEYNES

Balance Bank Better Citizenship Man
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

Finding Hands Invisible Myself Solution Trying
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
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

I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.

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I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.

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