Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. ... in the field of economic and political philosophy there are not many who are influenced by new theories after they are twenty-five or thirty years of age, so that the ideas which civil servants and politicians and even agitators apply to current events are not likely to be the newest.
British economist (1883–1946)
John Maynard Keynes, 1st Baron Keynes of Tilton (5 June 1883 – 21 April 1946) was a British economist whose ideas, known as Keynesian economics, had a major impact on modern economic and political theory and on many governments' fiscal policies.
From: Wikiquote (CC BY-SA 4.0)
Alternative Names:
Lord Keynes
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Baron Keynes of Tilton
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John Maynard Keynes, 1st Baron Keynes
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Keynes
From Wikidata (CC0)
But if America recalls for a moment what Europe has meant to her and still means to her, what Europe, the mother of art and of knowledge, in spite of everything, still is and still will be, will she not reject these counsels of indifference and isolation, and interest herself in what may prove decisive issues for the progress and civilization of all mankind?
The war has ended with every one owing every one else immense sums of money. Germany owes a large sum to the Allies, the Allies owe a large sum to Great Britain, and Great Britain owes a large sum to the United States. The holders of war loan in every country are owed a large sum by the States, and the States in its turn is owed a large sum by these and other taxpayers. The whole position is in the highest degree artificial, misleading, and vexatious. We shall never be able to move again, unless we can free our limbs from these paper shackles.
I believe that the clue to his mind is to be found in his unusual powers of continuous concentrated
introspection. A case can be made out, as it also can with Descartes, for regarding him as an accomplished
experimentalist. Nothing can be more charming than the tales of his mechanical contrivances when he was a
boy. There are his telescopes and his optical experiments, These were essential accomplishments, part of his
unequalled all-round technique, but not, I am sure, his peculiar gift, especially amongst his contemporaries.
His peculiar gift was the power of holding continuously in his mind a purely mental problem until he had
seen straight through it. I fancy his pre-eminence is due to his muscles of intuition being the strongest and
most enduring with which a man has ever been gifted. Anyone who has ever attempted pure scientific or
philosophical thought knows how one can hold a problem momentarily in one's mind and apply all one's
powers of concentration to piercing through it, and how it will dissolve and escape and you find that what
you are surveying is a blank. I believe that Newton could hold a problem in his mind for hours and days and
weeks until it surrendered to him its secret. Then being a supreme mathematical technician he could dress it
up, how you will, for purposes of exposition, but it was his intuition which was pre-eminently extraordinary
- 'so happy in his conjectures', said De Morgan, 'as to seem to know more than he could possibly have any
means of proving'. The proofs, for what they are worth, were, as I have said, dressed up afterwards - they
were not the instrument of discovery.
Lenin is said to have declared that the bestway to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscatearbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.