John Maynard Keynes Quotes


Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself it is in many ways extremely objectionable


Citations

John Maynard Keynes, 1883-1946, British Economist, The End of Laissez-faire, 1926

Sourced by: Eigen's Political and Historical Quotations

Related Quotes

The first sentence is often quoted by conservatives in defense of the capitalistic system. However most do not realize that Haldane was actually a socialist who was opposed to capitalism. They were unaware of the second sentence which would make them as unhappy as the first made them happy.


By producing growth and an increasing standard of living and universal education, capitalism’s citizens have the time, education, and resources to protest and produce social unrest. However, that assumes that there is also a democratic state. For Schumpeter and many others, capitalism and democracy go hand in hand, but many point to historical examples of one developing faster than the other.


John Maynard Keynes
John Maynard Keynes
  • Born: June 5, 1883
  • Died: April 21, 1946
  • Nationality: British
  • Profession: Economist

John Maynard Keynes, 1st Baron Keynes, CB, FBA (5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics.