John Maynard
John Maynard
wise gold revolution
The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.
men cities long
How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
important politics rewards
It is not the ownership of the instruments of production which it is important for the State to assume. If the State is able to determine the aggregate amount of resources devoted to augmenting the instruments and the basic rate of reward to those who own them, it will have accomplished all that is necessary. Moreover, the necessary measures of socialization can be introduced gradually and without a break in the general traditions of society.
newton type aloof
Like all his type, Newton was wholly aloof from women.
mean men people
By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.
people clerks three
I know of only three people who really understand money. A professor at another university. One of my students. And a rather junior clerk at the Bank of England.
war benefits half
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.
writing autumn fortune
In this autumn of 1919, in which I write, we are at the dead season of our fortunes.
mean economics currency
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
recovery mean play
I do not mean to impugn the social justice and social expediency of the redistribution of incomes aimed at by N.I.R.A. and by the various schemes for agricultural restriction. The latter, in particular, I should strongly support in principle. But too much emphasis on the remedial value of a higher price-level as an object in itself may lead to serious misapprehension as to the part which prices can play in the technique of recovery. The stimulation of output by increasing aggregate purchasing power is the right way to get prices up; and not the other way round.
numbers safety different
To suppose that safety-first consists in having a small gamble in a large number of different companies where I have no information to reach a good judgment, as compared with a substantial stake in a company where one's information is adequate, strikes me as a travesty of investment policy.
two three investing
One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.
investing austerity slumps
The boom, not the slump, is the right time for austerity at the Treasury.
humble heaven vastness
I don't feel the least humble before the vastness of the heavens.