John M Keynes Quotes

I’m heartened by our dissatisfaction, because dissatisfaction is a world away from indifference. The widespread nostalgia, the yearning for a past that never really was, suggests that we still have ideals, even if we have buried them alive. True progress begins with something no knowledge economy can produce: wisdom about what it means to live well. We have to do what great thinkers like John Stuart Mill, Bertrand Russell, and John Maynard Keynes were already advocating 100 years ago: to “value ends above means and prefer the good to the useful.

I belong to a culture that includes Proust, Henry James, Tchaikovsky, Cole Porter, Plato, Socrates, Aristotle, Alexander the Great, Michelangelo, Leonardo da Vinci, Christopher Marlowe, Walt Whitman, Herman Melville, Tennessee Williams, Byron, E.M. Forster, Lorca, Auden, Francis Bacon, James Baldwin, Harry Stack Sullivan, John Maynard Keynes, Dag Hammarskjold… These are not invisible men. Poor Bruce. Poor frightened Bruce. Once upon a time you wanted to be a soldier. Bruce, did you know that an openly gay Englishman was as responsible as any man for winning the Second World War? His name was Alan Turing and he cracked the Germans' Enigma code so the Allies knew in advance what the Nazis were going to do — and when the war was over he committed suicide he was so hounded for being gay. Why don't they teach any of this in the schools? If they did, maybe he wouldn't have killed himself and maybe you wouldn't be so terrified of who you are. The only way we'll have real pride is when we demand recognition of a culture that isn't just sexual. It's all there—all through history we've been there; but we have to claim it, and identify who was in it, and articulate what's in our minds and hearts and all our creative contributions to this earth. And until we do that, and until we organize ourselves block by neighborhood by city by state into a united visible community that fights back, we're doomed. That's how I want to be defined: as one of the men who fought the war.

NED: I belong to a culture that includes Proust, Henry James, Tchaikovsky, Cole Porter, Plato, Socrates, Aristotle, Alexander the Great, Michelangelo, Leonardo da Vinci, Christopher Marlowe, Walt Whitman, Herman Melville, Tennessee Williams, Byron, E. M. Forster, Lorca, Auden, Francis Bacon, James Baldwin, Harry Stack Sullivan, john Maynard Keynes, Dag Hammarskjöld . . . These are not invisible men.

That the New Deal should have been bigger, sooner, is a conclusion of long standing: John Maynard Keynes told Roosevelt he needed to approximately double the rate of “direct stimulus to production deliberately applied by the administration” in 1934, at a time when Roosevelt had reduced such expenditures in response to political pressure just like the kind that later came from Grassley or King.29 Roosevelt soon moved in the direction that Keynes suggested, getting the so-called big bill—amounting to nearly $5 billion—from Congress and allowing him to create the WPA to employ Americans nationwide under the direction of Harry Hopkins. But a few years afterward, once recovery seemed well under way, Roosevelt again cut relief spending—again in response to political pressure. For many economists—including Keynes—that premature reduction in fiscal stimulus was the cause of the 1937‒1938 recession.30 Only after making that fiscally cautious error did the Roosevelt administration adopt a deliberately Keynesian budget. Soon afterward, mobilization for war began.31 In 1941 Hopkins took a new job, directing Lend-Lease operations; Congress approved nearly $50 billion for the program—an order of magnitude more than the “big bill” that created the WPA.32 So when Grassley says the war ended the Depression, he is not stating an argument against the New Deal: he is stating an argument for a bigger New Deal, an argument that New Dealer Harry Hopkins at WPA should have had a budget more like World War II–era Harry Hopkins at Lend-Lease.33