If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
John Maynard KeynesI find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.
John Maynard KeynesThe Economic Problem...the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.
John Maynard KeynesGold is a relic from a time when government's were less trustworthy in these matters (currency debasement) than they are now.
John Maynard KeynesI do not mean to impugn the social justice and social expediency of the redistribution of incomes aimed at by N.I.R.A. and by the various schemes for agricultural restriction. The latter, in particular, I should strongly support in principle. But too much emphasis on the remedial value of a higher price-level as an object in itself may lead to serious misapprehension as to the part which prices can play in the technique of recovery. The stimulation of output by increasing aggregate purchasing power is the right way to get prices up; and not the other way round.
John Maynard Keynes