If we aim deliberately at the impoverishment of Central Europe, vengeance, I dare predict, will not limp. - John Maynard Keynes

The ideas of economists and political philosophers, both when they are right and when they are wrong are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist. Madman in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler a few years back. I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.

In this autumn of 1919, in which I write, we are at the dead season of our fortunes.

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.