1930s, Message to Congress on Tax Revision (1935)
Context: The desire to provide security for oneself and one's family is natural and wholesome, but it is adequately served by a reasonable inheritance. Great accumulations of wealth cannot be justified on the basis of personal and family security. In the last analysis such accumulations amount to the perpetuation of great and undesirable concentration of control in a relatively few individuals over the employment and welfare of many, many others.
“When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.”
as quoted in "Keynes and the Ethics of Capitalism" by Robert Skidelsy http://www.webcitation.org/query?id=1256603608595872&url=www.geocities.com/monedem/keyn.html
Essays in Persuasion (1931), Economic Possibilities for our Grandchildren (1930)
Context: When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall be able to afford to dare to assess the money-motive at its true value. The love of money as a possession — as distinguished from the love of money as a means to the enjoyments and realities of life — will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease … But beware! The time for all this is not yet. For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still. For only they can lead us out of the tunnel of economic necessity into daylight.
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John Maynard Keynes 122
British economist 1883–1946Related quotes
On elected politicians
1920s, Notes on Democracy (1926)
The Spirit of Revolt (1880)
Context: The need for a new life becomes apparent. The code of established morality, that which governs the greater number of people in their daily life, no longer seems sufficient. What formerly seemed just is now felt to be a crying injustice. The morality of yesterday is today recognized as revolting immorality. The conflict between new ideas and old traditions flames up in every class of society, in every possible environment, in the very bosom of the family. … Those who long for the triumph of justice, those who would put new ideas into practice, are soon forced to recognize that the realization of their generous, humanitarian and regenerating ideas cannot take place in a society thus constituted; they perceive the necessity of a revolutionary whirlwind which will sweep away all this rottenness, revive sluggish hearts with its breath, and bring to mankind that spirit of devotion, self-denial, and heroism, without which society sinks through degradation and vileness into complete disintegration.
"Diagnosis of Our Moral Uneasiness"
Power, Politics, and People (1963)
1920s, The Press Under a Free Government (1925)
“Wealth can only be accumulated by the earnings of industry and the savings of frugality.”
First annual message to Congress (1 June 1841).
"For America's Sake" speech (12 December 2006), as quoted in Moyers on Democracy (2008), p. 17
Context: Reagan's story of freedom superficially alludes to the Founding Fathers, but its substance comes from the Gilded Age, devised by apologists for the robber barons. It is posed abstractly as the freedom of the individual from government control — a Jeffersonian ideal at the roots of our Bill of Rights, to be sure. But what it meant in politics a century later, and still means today, is the freedom to accumulate wealth without social or democratic responsibilities and license to buy the political system right out from everyone else.
1900s, First Annual Message to Congress (1901)