John Maynard
John Maynard
thinking sight alternatives
I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.
bottles laissez-faire principles
The treasury could fill old bottles with banknotes and bury them..and leave it to private enterprises on well-tried principles of laissez-faire to dig the notes up again.
thinking community done
Dangerous acts can be done safely in a community which thinks and feels rightly, which would be the way to hell if they were executed by those who think and feel wrongly.
responsibility views long
I expect to see the State, which is in a position to calculate the marginal efficiency of capital-goods on long views and on the basis of the general social advantage, taking an ever greater responsibility for directly organizing investments.
government gold matter
Gold is a relic from a time when government's were less trustworthy in these matters (currency debasement) than they are now.
men economics dies
Men will not always die quietly.
taken animal average
Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
france illusion economics
He had one illusion - France; and one disillusion - mankind, including Frenchmen.
mistake book historical
The book, as it stands, seems to me to be one of the most frightful muddles I have ever read, with scarcely a sound proposition in it beginning with page 45 [Hayek provided historical background up to page 45; after that came his theoretical model], and yet it remains a book of some interest, which is likely to leave its mark on the mind of the reader. It is an extraordinary example of how, starting with a mistake, a remorseless logician can end up in bedlam.
littles way facts
Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.
men democracy balance
It is better that a man should tyrannize over his bank balance than over his fellow-citizens.
believe thinking investing
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
men liberty saving
Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
education economics indifferent
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.