Lord Keynes Quotes

But my lord, when we addressed this issue a few years ago, didn't you argue the other side?" He said, "That's true, but when I get more evidence I sometimes change my mind. What do you do?

Halfway through the second term of Franklin Roosevelt, the New Deal braintrusters began to worry about mounting popular concern over the national debt. In those days the size of the national debt was on everyone’s mind. Indeed, Franklin Roosevelt had talked himself into office, in 1932, in part by promising to hack away at a debt which, even under the frugal Mr. Hoover, the people tended to think of as grown to menacing size. Mr. Roosevelt’s wisemen worried deeply about the mounting tension ... And then, suddenly, the academic community came to the rescue. Economists across the length and breadth of the land were electrified by a theory of debt introduced in England by John Maynard Keynes. The politicians wrung their hands in gratitude. Depicting the intoxicating political consequences of Lord Keynes’s discovery, the wry cartoonist of the Washington Times Herald drew a memorable picture. In the center, sitting on a throne in front of a Maypole, was a jubilant FDR, cigarette tilted almost vertically, a grin on his face that stretched from ear to ear. Dancing about him in a circle, hands clasped together, their faces glowing with ecstasy, the braintrusters, vested in academic robes, sang the magical incantation, the great discovery of Lord Keynes: “We owe it to ourselves.” With five talismanic words, the planners had disposed of the problem of deficit spending. Anyone thenceforward who worried about an increase in the national debt was just plain ignorant of the central insight of modern economics: What do we care how much we - the government - owe so long as we owe it to ourselves? On with the spending. Tax and tax, spend and spend, elect and elect ...

I wanted to get rich so I could be independent, like Lord John Maynard Keynes.' Independence is the end that wealth serves for Charlie, not the other way around.

Friedrich A. von Hayek se lo considera el padre del liberalismo moderno. Durante los años treinta y cuarenta del siglo XX fue un profeta aislado, al punto de que esa circunstancia determinó su alejamiento de su profesión inicial, la economía. En esos tiempos, Lord John Maynard Keynes era el “rey” indiscutido en los círculos intelectuales y políticos, tanto de Inglaterra como de los Estados Unidos. Esta situación comenzó a cambiar, aunque muy lentamente, cuando durante la Segunda Guerra Mundial salió publicada “Camino de Servidumbre”. Esta obra constituye la más sólida argumentación de denuncia contra los efectos perversos que los avances del socialismo tienen sobre la libertad

What separated Norman from Keynes had less to do with economics and more to do with philosophy and worldview.

Keynes’s wartime efforts had taken a severe toll on his health.

strategist. Determined to avoid a repeat of the mistakes of the First World War, which had largely been financed by printing money, Keynes designed the framework for paying for this war without as much recourse to inflation.

After two years of negotiations between Keynes and White, the differences were ironed out—largely in favor of the more powerful Americans.

What seemed to have captured the public imagination was the outline of the world economy that Keynes was able to draw.

and put Keynes at the heart of economic policy making.

As originally conceived, the British and American plans did differ in emphasis. Keynes’s plan was more ambitious in size and scope.

John Maynard Keynes, the great British economist, died in 1946. But his ghost lives on. When economies around the world contracted sharply in late 2008 and early 2009, government officials started seeing visions of the 1930s and turned immediately to the teachings of Lord Keynes.

The conference opened on June 30, 1944. In contrast to the many international summits of the interwar period, which had been characterized by a corrosive atmosphere of mistrust, Bretton Woods was a collegial, almost jovial, affair. “The flow of alcohol is appalling774,” wrote Keynes. With 750 delegates, and even more assistants, it was, according to Lydia Keynes, a “madhouse with most people775 . . . working more than humanly possible.” Committees met all day, broke for evening cocktails and rounds of dinner parties, reconvening thereafter till 3:00 a.m., only to resume at 9:30 the next morning.

When, in August 1932, a reporter for the Saturday Evening Post asked John Maynard Keynes if there had ever been anything like this before, he replied, “Yes. It was called the Dark Ages705, and it lasted four hundred years.