When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done
John Maynard KeynesThere is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
John Maynard KeynesInvestment based on genuine long-term expectations is so difficult today as to be scarcely practicable.
John Maynard KeynesOf the maxims of orthodox finance none, surely, is more anti-social than the fetish of liquidity, the doctrine of that it is a positive virtue on the part of investment institutions to concentrate their resources upon the holding of 'liquid' securities. It forgets that there is no such thing as liquidity of investment for the community as a whole.
John Maynard Keynes