John Maynard Keynes
British · 1883–1946
British economist whose ideas on government spending and monetary policy during downturns fundamentally changed macroeconomics and economic policy worldwide.
Wikipedia ↗“The 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.”
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“A study of the history of opinion is a necessary preliminary to the emancipation of the mind.”
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“The decadent international but individualistic capitalism, in the hands of which we found ourselves after the War, is not a success. It is not intelligent, it is not beautiful, it is not just, it is not virtuous — and it doesn't deliver the goods.”
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“Words ought to be a little wild, for they are the assault of thoughts on the unthinking.”
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“The difficulty lies not so much in developing new ideas as in escaping from old ones.”
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“Practical men, who believe themselves to be quite exempt from any intellectual influences, 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.”
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“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.”
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