We review the best famous quotes from this renowned English economist. John Maynard Keynes was a famous British economist born in 1883 and whose theories had a great impact on the policies taken by many States during the 20th century.
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| The 80 best phrases of John Maynard Keynes |
Unfortunately, Keynes died in 1946 of a heart attack, the pressure of his work took its toll on his already fragile state of health.
Great quotes from economist John Maynard Keynes
Without a doubt this is an economist that we should all know, because thanks to his works we will be able to understand the economy in a much more accurate way.
Do you want to know his best phrases and thoughts? Below you can discover the 80 best phrases of John Maynard Keynes , possibly the most influential economist of the 20th century.
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1. With a continuous process of inflation, governments can confiscate, secretly and inadvertently, an important part of the wealth of their fellow citizens.
Governments always have full control of a country's economy. These can manipulate her deeply.
2. We are being afflicted by a new disease, of which some readers may not have heard the name, but of which they will hear on a large scale in the years to come, technological unemployment.
New technologies have the disadvantage of leaving many people unemployed, that is why we must know how to continuously recycle ourselves.
3. He had an illusion: France; and a disappointment: humanity, including the French, and their colleagues no less important.
The decisions that a government makes will affect the entire population of that country.
4. Speculators are a consequence and not a cause of high prices.
Speculators will always go where they can make money, they are a direct consequence of any economic bubble.
5. The inevitable rarely happens, it is the unexpected that usually happens.
We do not fully know what may happen in the future, we must be prepared for whatever may happen.
6. After any action by a politician you can find something said by an intellectual fifteen years ago.
Politicians always draw their ideas from intellectuals whom they have previously read.
7. Every time the franc loses value, the Minister of Finance is convinced that it is due to everything except economic causes. he attributes it to the mysterious and evil influences of speculation.
Irresponsible management will unequivocally have a profound impact on the economy of any country.
8. Long periods are a misleading guide to current affairs. In the long run we are all dead.
We must not trust that everything will be better in the future, we must act now to make sure of it.
9. The market may remain irrational longer than you can remain solvent.
Our economy as individuals is really fragile, we must be very careful with our long-term investments.
10. When circumstances change, I change my mind. What are you doing?
We must know how to adapt to the problems of the moment, being malleable will allow us to have greater efficiency in solving our economic problems.
11. Nothing can be solved in isolation. Each use of our resources is at the expense of an alternative use.
The economy is something that affects us all, the resources of a country are limited and belong to all its citizens.
12. When the accumulation of wealth is not important to have a high social level, there will be a great change in moral codes.
Today money largely governs our lives, this is something we must change in the future.
13. Avoiding taxes is the only intellectual effort that pays off.
Avoiding paying our taxes can carry prison terms, this is something that we should all avoid in our professional careers.
14. There is no subtler or safer means of upsetting the existing base of society than that of corrupting money.
Money can cause order or disorder in our society. In any capitalist economy, money is the most valuable asset that exists.
15. Education: the inculcation of the incomprehensible to the indifferent by the incompetent.
A bad education can be the direct cause of many headaches, for any state that suffers it.
16. If I owe you a pound, I have a problem; But if I owe you a million, the problem is yours.
If we have a large debt, our guarantor is at great risk; because of not recovering it, he himself would absorb said debt.
17. But Marxist socialism must always remain a portent for historians of opinion: how a doctrine so illogical and so clumsy can have so powerfully influenced the minds of men and through them , on the events of history.
As we can see in this quote, Maynard Keynes is a convinced capitalist and, as such, he is totally contrary to a possible socialist economy.
18. The role of bank credit is to finance the reestablishment of working capital once the recovery of business has definitively taken place.
Credit plays a fundamental role in the capitalist economy, thanks to it it is possible to shoot this economy towards success.
19. I know what makes a man more conservative... Knowing nothing of the present or nothing of the past.
If we do not risk we will never win, in this way we must always be innovative in order to prosper within our society.
20. I think that modifying capitalism, wisely, can probably become more efficient to achieve economic ends than all the alternative systems so far, but this system is, in many respects, extremely criticizable.
21. The day is not far off when the economic problem will be in the back seat where it should go, and the heart and head will be occupied or reoccupied by our real problems, the problems of life and human relationships, of creation, behavior and religion.
Society as a whole is much more complex than just its economy, we must worry about all the problems that concern it.
22. The governments of Europe try to direct popular outrage against the class known as “speculators”, which is an obvious consequence of their vicious procedures.
The government is always on the lookout for scapegoats to blame for its failures.
23. Inflation is unfair; deflation inconvenient.
Inflation hurts the taxpayer and deflation the businessman.
24. When a country's capital development becomes a by-product of casino activities, the work is likely to have been done poorly.
Having a strong and determined government is essential for the development of any great nation.
25. But when phenomena are so complex, forecasts can never point to a single path, and the mistake can be made of expecting too rapid and unavoidable consequences of causes that perhaps are not all applicable to the problem.
Predicting where the economy will move is something that all economists try to do, achieving it in practice is quite complicated.
26. To say that with a certain organization, equipment and technique, real wages and the volume of production (and therefore employment) are related in a single way, in such a way that, in general terms, an increase in occupation only it can occur accompanied by a decrease in the real wage rate.
According to Keynes, lowering wages can lead to a rapid increase in employment, do you agree with him?
27. The first thing that is needed is for bank credit to be cheap and abundant. This is only possible if each central bank frees itself from the concern of feeling that it possesses the adequate reserves of international money.
Credit is the main driver of a country's economy, if credit does not flow the economy will inevitably stagnate.
28. Most men love money and security more, and creation and construction less as they age.
When we get older we feel unable to innovate or create something new, age always takes its toll, both physically and emotionally.
29. The flow of money is a link between the present and the future.
Money is essential to obtain a bright future, we must know how to ensure a good amount of it.
30. Ideas shape the course of history.
The ideas that, as simple people we have, can develop a current that over time changes society.
31. At the same time as the organization of investment markets improves, however, the risks of speculation prevail. Speculators might not be detrimental if they were like bubbles within a stable business stream; The serious thing occurs when it is the company that becomes a bubble in the midst of speculative disorder.
Speculation can provoke inflation, being this beneficial in the present but with serious consequences in the future.
32. In the long run we will all be dead.
Do not leave for tomorrow what you can do today, seize the moment!
33. Although workers often resist a reduction in their nominal wages, they are not used to leaving work when the prices of goods for employees rise.
When prices rise, they increase the cost of living and this obviously causes impoverishment of people.
34. There are no intrinsic reasons for capital shortages.
The lack of capital can be given for many different reasons, but it will never be for a single specific reason.
35. The theory of aggregate production, which is the key to the following book, can be much more easily adapted to the conditions of a totalitarian state than the theory of production and distribution of a given production given the conditions of free competition and a high degree of "laissez-faire". This is one of the reasons that justifies the fact that I call my theory "The General Theory."
Keynes was undoubtedly a great connoisseur of international economics, the ideas of this economist are completely valid today.
36. In the future, for many years, old Adam will be so strong within us that everyone will need to do some work, if he wants to feel satisfied. We will do more things for ourselves than is common in today's rich man, who only rejoices when he has small duties, tasks and routines. But in addition to this, we will try to spread the butter on the slice of bread, make any work that has yet to be done as widely shared as possible. Three-hour or weekly fifteen-hour shifts can eliminate the problem for a long time. Because three hours a day is enough to satisfy the old Adam within us.
When we work, we all feel more satisfied with ourselves, that's where the famous saying comes from: "work dignifies people".
37. The study of economics does not seem to require any specialized gift of an exceptionally superior order. Isn't it a very easy discipline compared to the higher branches of philosophy or pure science? An easy discipline from which very few excel. The paradox may have its explanation that the expert economist must possess a rare combination of gifts. He must be to some extent a mathematician, historian, statesman, philosopher. Must understand symbols and speak words. You must look at the particular from the perspective of the general and consider in the same reasoning the abstract and the concrete. You must study the present with the future in mind. No aspect of man's nature or his institutions should be left out of his consideration. He must be simultaneously determined and disinterested;
Being an economist can be quite complicated, since we must be skilled in a large number of different sciences.
38. Ancient Egypt was doubly fortunate and undoubtedly owed its fabulous wealth to owning two activities, which were the construction of pyramids, as well as the search for precious metals, the fruits of which, being unable to serve the needs of man being consumed, did not they ruined their abundance. The Middle Ages created cathedrals and sang funeral songs. Two pyramids, two masses for the dead, are twice as good as one, but two railroads from London to York are not.
For the economy to flow effectively it must never stop, creating jobs is the main pillar of the economy.
39. I don't understand how universal bankruptcy can bring us closer to prosperity.
Bankruptcies are never positive, for an economy to bear fruit there must always be new companies that support it.
40. If the Public Treasury filled bottles with bills and buried them ... and left the private company ... to extract the bills again ... there would be no more unemployment ... the real income of the community and its wealth would increase.
Injecting capital into a country's credit will give its economy the fuel it needs to take off.
41. First of all, it is a class match, and of a class that is not mine. If I have to defend partial interests, I will defend mine. When the class struggle as such arrives, my local patriotism and my personal patriotism will be close to me.
This great economist was always ready to represent the great elites of his country in society.
42. I should have had more champagne.
When Keynes lived champagne consumption was widely spread among the bourgeois class.
43. It is better to be more or less well than to be wrong.
We must not fall into error, so we must make very sure of our statements.
44. But be careful! The time has not yet come for all this. For at least another hundred years we must pretend to ourselves and to all that what is just is disgusting and what is disgusting; because lack is useful and just is not. Greed, usury and caution must be our gods for a little while longer.
Greed in the human being seems intrinsic to him, we must promote more positive values in society.
45. For our generation, Einstein has become a double symbol: a symbol of the mind that travels in the cold regions of space, and a symbol of the brave and generous outcast, pure in heart and joyful in spirit.
As we can see, even economists were deeply inspired by the figure of the great science genius who was undoubtedly Einstein.
46. I have sought, with a few touches, to highlight the solidarity and historical continuity of the high intelligence of England, which has built the foundations of our thinking in the two and a half centuries, since Locke, in his Essay on Human Understanding, wrote the first modern book in English.
England has always been the cradle of great intellectual personalities, and the education that the English have received has always been among the best in the world.
47. Newton was not the first of the age of reason. He was the last of the magicians.
Many know Newton's facet as a physicist, but few know him as the famous alchemist who also was.
48. Comfort and habits allow us to be willing to give up, but I am not prepared for a creed that does not care how much it destroys the freedom and security of daily life, which deliberately uses the weapons of international persecution, destruction and struggle.
Religion in ancient times had managed to control the economy of more than one nation, thereby causing the era that we all know today as the Middle Ages.
49. In truth, the gold standard is already a barbarous relic.
Gold has always been what is economically considered a safe haven and today its prices continue to go through the roof.
50. I do not feel the humblest before the immensity of the heavens.
John Maynard Keynes trusted his qualities as an economist and lived completely at peace with himself.
51. This is a nightmare, which will pass in the morning. Because the resources of nature and the devices of men are as fertile and productive as they were. The speed of our progress towards solving the material problems of life is no less rapid.
Whatever ups and downs society may experience, we will be able to solve it over time.
52. If not the wisest, but the most sincere of men. If not the most pleasant, however, the strangest and sweetest. If not the most practical, however, of the purest public conscience. If not of great artistic genius, however, the most solid and sincere achievement in many of the fields covered by the human mind.
We all have something to offer society, we must know what it is to be able to exploit it in our favor.
53. How should they know the glory of the free intellect and the soft objective sympathy towards whom money and violence, drink, blood and pomp mean absolutely nothing?
A lot of people in the world are moved only by greed, we should not be one of those people. The world can be wonderful seen from the right prism.
54. The love of money as possession, unlike the love of money as a means for the enjoyment and reality of life, will be recognized for what it is, a somewhat unpleasant morbidity, one of those semi-criminal, semi-propensities. pathological, which shudders before specialists in mental illness.
Money is not the most important thing that we can possess, our family and our friends indeed are.
55. Leninism is a combination of two things that Europeans have kept for centuries in different compartments of the soul: religion and business.
The way in which Lenin viewed the economy caused a great fury in his time, and even today a good part of the political world supports these ideas.
56. Economists must leave Adam Smith only the glory of the room, they must start the day, throw pamphlets in the wind, always write "sub specie temporis" and achieve immortality by accident, if they do.
With this quote, this famous economist encouraged all his peers to improve and innovate. We must evolve over time.
57. The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. In fact, the world is governed by little else. Practical men, who think themselves quite exempt from any intellectual influence, are often slaves to some late economist.
Ideas undoubtedly direct our world, without them nothing that everyone can do today would be possible. We must always value new ideas.
58. Men will not always die in silence.
The time will come when the working class will say enough is enough. The bourgeois are fully aware of this.
59. There is no subtler, or safer, means of overturning the existing foundations of society than debating currency. The process involves all the hidden forces of economic law on the side of destruction, and it does it in a way that no man in a million can diagnose.
The government is capable of manipulating the economy in such a way that the working class always suffers.
60. The old saying holds true. You owe £ 1,000 to your banker and you are at his mercy; We owe him 1 million pounds and the position is reversed.
Banks must know very well to whom they lend money, large debts are the most difficult to collect.
61. Capitalism is the amazing belief that the most evil men will do the most evil things for the good of all.
Capitalism is capable of carrying out the most atrocious actions against its own population. We must know how to choose our heads of government very well.
62. Words should be a bit wild, because they are the assault of thoughts about which they do not think.
Our words must perfectly represent our own thoughts, knowing how to choose them correctly is not an easy task.
63. The political problem of humanity is to combine three things: economic efficiency, social justice and individual freedom.
Our political leaders have a great responsibility: the task of making our society fairer for all.
64. The difficulty lies not so much in developing new ideas, but in how to escape from old ones.
When we focus our thoughts on old ideas, we will be limited by those same conceptions. To innovate we must start from scratch.
65. When the end result is expected to be a compromise, it is often wise to start from an extreme position.
We must know very well what action we should take in which situation, making the right decisions in life is not an easy thing to do in practice.
66. If agriculture were organized like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it in the afternoon when the sun came up.
The stock market fluctuates in a really fast way, being able to predict these fluctuations is practically impossible.
67. See the British Prime Minister watching over the company, with six or seven senses unavailable to ordinary men, judging character, motive, and subconscious drive, perceiving what each was thinking and even what he was going to say next , and combining with telepathic instinct. The argument or appeal best suited to the vanity, weakness, or self-interest of his immediate auditor was the realization that the poor president would be playing deception of the blind in that party.
John Maynard Keynes lived through the two great wars, and during that time the English Prime Minister was none other than the famous Winston Churchill.
68. The forces of the nineteenth century have run their course and are exhausted.
During the turn of the century, the great economic powers of bygone days were exhausted.
69. That she [France] has something to fear from Germany in the future that we can foresee, except what she herself may provoke, is an illusion. When Germany has regained its strength and pride, as it will in due course, it must be many years before it looks west again. Germany's future is now in the East, and it is in that direction that her hopes and ambitions, when revived, will certainly change.
After the two great wars, Germany and France had to rebuild themselves again.
70. This state of affairs is not an inevitable consequence of a decrease in the ability to produce wealth. I see no reason why, with good management, real wages should be reduced on average. It is the consequence of the wrong monetary policy.
Reducing wages is never a good option to try to revive the economy, money must flow in order to grow.
71. Economics is a very dangerous science.
As economists, a poor prediction of the economic future can be disastrous for those people we advise.
72. Perhaps it is historically true that no order of society ever perishes, except by its own hand.
The great civilizations have always ended up destroying themselves, mismanagement can be fatal for any economy.
73. The next movement is with the head, and the fists must wait.
We must use our heads more and our hands less if we wish to achieve our personal goals in the future.
74. With what modus operandi does the credit restriction achieve this result? In no other way than by the deliberate intensification of unemployment.
If credit stops flowing to society, jobs are bound to suffer.
75. Successful investing is anticipating the anticipations of others.
A great quote from John Maynard Keynes. In order to be more financially successful than others, we must follow this simple premise.
76. In peacetime, that is, the size of the cake depends on the amount of work done. But in wartime, the size of the pie is fixed. If we work harder, we can fight better. But we should not consume more.
During a war, food rationing has always proved essential, so that an economy can survive in the long run.
77. If we deliberately aim at the impoverishment of Central Europe, revenge, I dare predict, will not limp.
Keynes was fully aware that his actions could lead to a future reaction from Germany.
78. The power to get used to their environment is a marked characteristic of humanity.
Human beings, in fact, always get used to our environment and the lifestyle we observe in it.
79. If economists could be considered humble and competent people at the dentist level, that would be splendid.
Economists are viewed with suspicion by a certain part of society, many people fail to understand them.
80. I can be influenced by what I consider to be justice and good sense, but the class struggle will find me on the side of the educated bourgeoisie.
This famous economist knew that he belonged to the bourgeois class, and as a good bourgeois he was, he would always defend his own social class.
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