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" "Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back
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.
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Obviously consumption-goods, taken as a whole, have in this sense the longest period of production, since of every productive process they constitute the last stage. Thus if the first impulse towards the increase in effective demand comes from an increase in consumption, the initial elasticity of employment will be further below its eventual equilibrium-level than if the impulse comes from an increase in investment. Moreover,
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Ideje ekonomista i političkih filozofa, i kad su u pravu i kad nisu, imajući veći uticaj nego što se obično smatra. U stvari, svetom malo šta drugo vlada. Praktični ljudi, koji smatraju da ne podležu intelektualnim uticajima, obično su robovi nekog preminulog ekonomiste. Ludaci na vlasti, koji čuju glasove oko sebe, mogu da zahvale za svoje ludilo nekom akademskom skribomanu od pre nekoliko godina.