The time has already come when each country needs a considered national policy about what size of population, whether larger or smaller than at present or the same, is most expedient. And having settled this policy, we must take steps to carry it into operation. The time may arrive a little later when the community as a whole must pay attention to the innate quality as well as to the mere numbers of its future members.
John Maynard KeynesInvesting is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.
John Maynard KeynesSpeculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes a bubble on a whirlpool of speculation. 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 KeynesGovernment machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
John Maynard Keynes