“The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.”

— John Maynard Keynes , book The Economic Consequences of the Peace

Source: The Economic Consequences of the Peace (1919), Chapter II, Section III, p. 19

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half centur…" by John Maynard Keynes?

John Maynard Keynes 122

British economist 1883–1946

Related quotes

“The process has aroused much antagonism, a great part of which is wholly without warrant. It is not true that as the rich have grown richer the poor have grown poorer. On the contrary, never before has the average man, the wage-worker, the farmer, the small trader, been so well off as in this country and at the present time. There have been abuses connected with the accumulation of wealth; yet it remains true that a fortune accumulated in legitimate business can be accumulated by the person specially benefited only on condition of conferring immense incidental benefits upon others. Successful enterprise, of the type which benefits all mankind, can only exist if the conditions are such as to offer great prizes as the rewards of success.”

Theodore Roosevelt (1858–1919) American politician, 26th president of the United States

1900s, First Annual Message to Congress (1901)

“We have now reached a point in the twenty-first century in which the externalities of this irrational system, such as the costs of war, the depletion of natural resources, the waste of human lives, and the disruption of the planetary environment, now far exceed any future economic benefits that capitalism offers to society as a whole. The accumulation of capital and the amassing of wealth are increasingly occurring at the expense of an irrevocable rift in the social and environmental conditions governing human life on earth.”

John Bellamy Foster (1953) Sociology professor and Marxist writer

Capitalism Has Failed—What Next?, 2019

“Since the eighteenth century the immense expansion of the worlds wealth has come about as a result of a correspondingly immense expansion of credit, which in turn has demanded increasingly stupendous suspensions of disbelief.”

Lewis H. Lapham (1935) American journalist

Source: Money And Class In America (1989), Chapter 8, Holy Dread, p. 197-198

“The tremendous and highly complex industrial development which went on with ever accelerated rapidity during the latter half of the nineteenth century brings us face to face, at the beginning of the twentieth, with very serious social problems. The old laws, and the old customs which had almost the binding force of law, were once quite sufficient to regulate the accumulation and distribution of wealth. Since the industrial changes which have so enormously increased the productive power of mankind, they are no longer sufficient.”

Theodore Roosevelt (1858–1919) American politician, 26th president of the United States

1900s, First Annual Message to Congress (1901)

“Two world wars have destroyed in a few years the material and spiritual capital accumulated by centuries of work. The nineteenth century had hoped to turn man, by virtue of education, into a reasoning being: a half-century of ferocity has proved that a cruel, primitive beast still resides in him.”

André Maurois (1885–1967) French writer

Un Art de Vivre (The Art of Living) (1939), The Art of Loving

“There is an urge and rage in people to destroy, to kill, to murder, and until all mankind, without exception, undergoes a great change, wars will be waged, everything that has been built up, cultivated and grown, will be destroyed and disfigured, after which mankind will have to begin all over again.”

Anne Frank (1929–1945) victim of the Holocaust and author of a diary

3 May 1944
The Diary of a Young Girl (1942 - 1944)
Context: I don't believe that the big men, the politicians and the capitalists alone are guilty of the war. Oh, no, the little man is just as keen, otherwise the people of the world would have risen in revolt long ago! There is an urge and rage in people to destroy, to kill, to murder, and until all mankind, without exception, undergoes a great change, wars will be waged, everything that has been built up, cultivated and grown, will be destroyed and disfigured, after which mankind will have to begin all over again.

“Piketty ends Capital in the Twenty-First Century with a call to arms — a call, in particular, for wealth taxes, global if possible, to restrain the growing power of inherited wealth. It’s easy to be cynical about the prospects for anything of the kind. But surely Piketty’s masterly diagnosis of where we are and where we’re heading makes such a thing considerably more likely. So Capital in the Twenty-First Century is an extremely important book on all fronts. Piketty has transformed our economic discourse; we’ll never talk about wealth and inequality the same way we used to.”

Paul Krugman (1953) American economist

"Why We’re in a New Gilded Age", The New York Review of Books (May 8, 2014)
The New York Review of Books articles

“It's a fundamental misunderstanding of human nature and of the concepts of liberty, freedom, and self-determination. It's a fundamental misunderstanding of economics. He (Obama) believes that the pie is fixed and that he needs to more equitably divide up the slices.”

Paul Ryan (1970) American politician

Source: Young Guns: A New Generation of Conservative Leaders (2010), p. 10-11

“"Communist society"; in the sense of a society organized exclusively on that single principle—could never exist. But all social systems, even economic systems like capitalism, have always been built on top of a bedrock of actually-existing communism.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter Five, "A Brief Treatise on the Moral Grounds of Moral Relations", p. 95

“During Humankind’s long centuries societies have risen and fallen, all alike in this one fact which rules all history: the great are protected, the small are crushed.”

Octave Mirbeau (1848–1917) French journalist, art critic, travel writer, pamphleteer, novelist, and playwright

“The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.”

Help us to complete the source, original and additional information

John Maynard Keynes 122

Related quotes

Related topics