Quotes and anectdotes from the wise to the foolish, and the courageous to the drunk
John Maynard Keynes Economist
Gender: Male
Citizenship: United Kingdom
Born: Jun 5, 1883
Died: Apr 21, 1946
John Maynard Keynes, 1st Baron Keynes, CB, FBA, was a British economist whose ideas have fundamentally affected the theory and practice of modern macroeconomics and informed the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and he is widely considered to be one of the founders of modern macroeconomics and the most influential economist of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics and its various offshoots.
In the 1930s, Keynes spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. Keynes instead argued that aggregate demand determined the overall level of economic activity and that inadequate aggregate demand could lead to prolonged periods of high unemployment. According to Keynesian economics, state intervention was necessary to moderate "boom and bust" cycles of economic activity.
The avoidance of taxes is the only intellectual pursuit that still carries any reward.
finance
Most men love money and security more, and creation and construction less, as they get older.
money
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
good & men
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.
future
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
government