John Maynard Keynes: Goodness

John Maynard Keynes was British economist. Explore interesting quotes on goodness.
John Maynard Keynes: 244   quotes 12   likes

“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.”

John Maynard Keynes
Men

“I can be influenced by what seems to me to be justice and good sense; but the class war will find me on the side of the educated bourgeoisie.”

John Maynard Keynes book Essays in Persuasion

Essays in Persuasion (1931), Am I a Liberal? (1925)

War , Education , Justice , Sense

“Economics is a science of thinking in terms of models joined to the art of choosing models which are relevant to the contemporary world. It is compelled to be this, because, unlike the typical natural science, the material to which it is applied is, in too many respects, not homogeneous through time. The object of a model is to segregate the semi-permanent or relatively constant factors from those which are transitory or fluctuating so as to develop a logical way of thinking about the latter, and of understanding the time sequences to which they give rise in particular cases.
Good economists are scarce because the gift for using "vigilant observation" to choose good models, although it does not require a highly specialised intellectual technique, appears to be a very rare one.”

John Maynard Keynes

Letter to Roy Harrod (4 July 1938), in The Collected Writings of John Maynard Keynes, Vol. XIV (1971), p. 297

World , Art , Way , Understanding

“The general character of our solution must be, therefore, that it withdraws from expenditure a proportion of the increased earnings. This is the only way, apart from shortages of goods or higher prices, by which we can secure a balance between money to be spent and goods to be bought.”

John Maynard Keynes

Source: How to Pay for the War (1940), Ch. 2 : The Character of the Solution

Money , Way

“The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods. In short we dislike it, and we are beginning to despise it. But when we wonder what to put in its place, we are extremely perplexed.”

John Maynard Keynes

National self-sufficiency (1933) http://www.panarchy.org/keynes/national.1933.html Section 3, republished in Collected Writings Vol. 11 (1982).

War , Beauty , Intelligence , Success

“If Mr. Lloyd George had no good qualities, no charms, no fascinations, he would not be dangerous. If he were not a syren, we need not fear the whirlpools.”

John Maynard Keynes

Source: Essays In Biography (1933), Mr. Lloyd George: A Fragment, p. 35

Fear

“The real struggle today, just as in the second quarter of the nineteenth century, is between a view of the world termed liberalism or radicalism, for which the primary object of government and of foreign policy is peace, freedom of trade and intercourse, and economic wealth and that other view, militarist or rather diplomatic, which thinks in terms of power, prestige, national or personal glory, the imposition of a culture and hereditary or racial prejudice. To the good English radical, the latter is so unreal, so crazy in its combination of futility and evil, that he is often in danger of forgetting or disbelieving its actual existence.”

John Maynard Keynes

published in Manchester Guardian (1922); in Collected Writings, Volume 17, p. 370

World , Peace , Thinking , Freedom

“The future life of Europe was not their concern; its means of livelihood was not their anxiety. Their preoccupations, good and bad alike, related to frontiers and nationalities, to the balance of power, to imperial aggrandizements, to the future enfeeblement of a strong and dangerous enemy, to revenge, and to the shifting by the victors of their unbearable financial burdens on to the shoulders of the defeated.”

John Maynard Keynes book The Economic Consequences of the Peace

Source: The Economic Consequences of the Peace (1919), Chapter IV, p. 56

Life , Revenge , Strong , Future

“This state of affairs is not an inevitable consequence of a decreased capacity to produce wealth. I see no reason why, with good management, real wages need be reduced on the average. It is the consequence of a misguided monetary policy.”

John Maynard Keynes book Essays in Persuasion

Essays in Persuasion (1931), The Economic Consequences of Mr. Churchill (1925)

Wealth

“The study of economics does not seem to require any specialized gifts of an unusually high order. Is it not, intellectually regarded, a very easy subject compared with the higher branches of philosophy and pure science? Yet good, or even competent, economists are the rarest of birds. An easy subject, at which very few excel! The paradox finds its explanation, perhaps, in that the master-economist must possess a rare combination of gifts. He must reach a high standard in several different directions and must combine talents not often found together. He must be mathematician, historian, statesman, philosopher – in some degree. He must understand symbols and speak in words. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought. He must study the present in the light of the past for the purposes of the future. No part of man's nature or his institutions must lie entirely outside his regard. He must be purposeful and disinterested in a simultaneous mood; as aloof and incorruptible as an artist, yet sometimes as near the earth as a politician. Much, but not all, of this many-sidedness Marshall possessed. But chiefly his mixed training and divided nature furnished him with the most essential and fundamental of the economist's necessary gifts – he was conspicuously historian and mathematician, a dealer in the particular and the general, the temporal and the eternal, at the same time.”

John Maynard Keynes

Source: Essays In Biography (1933), Alfred Marshall, p. 170; as cited in: Donald Moggridge (2002), Maynard Keynes: An Economist's Biography, p. 424

Lie , Mood , Understanding , Nature

“Why should coal miners suffer a lower standard of life than other classes of labour? They may be lazy, good-for-nothing fellows who do not work so hard or so long as they should. But is there any evidence that they are more lazy or more good-for-nothing than other people?
On grounds of social justice, no case can be made out for reducing. the wages of the miners. They are the victims of the economic Juggernaut. They represent in the flesh the "fundamental adjustments" engineered by the Treasury and the Bank of England to satisfy the impatience of the City fathers to bridge the "moderate gap" between $4.40 and $4.86. They (and others to follow) are the "moderate sacrifice" still necessary to ensure the stability of the gold standard. The plight of the coal miners is the first, but not—unless we are very lucky—the last, of the Economic Consequences of Mr. Churchill.”

John Maynard Keynes book Essays in Persuasion

Essays in Persuasion (1931), The Economic Consequences of Mr. Churchill (1925)

Life , People , Justice , Suffering