John Maynard Keynes Quotes
We are suffering just now from a bad attack of economic pessimism …. The economic problem may be solved, or at least be in sight of a solution, within a hundred years.
Keynes thought that within 100 years, governments could control economies so that recessions and depressions would not tale place and a sufficient standard of living could be maintained so that poverty would be eliminated. By the end of the 20th century, no nation had accomplished this and few tried. By the 21st century, globalization made it impossible for a single nation or even a small group of nations to control a nation’s economy.
John Maynard Keynes, 1883-1946, British Economist, Economic Possibilities for Our Grandchildren, 1930
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We emerged from the depression and went on to grow stronger than ever. However, we did not learn how to prevent future depressions and recessions.
Statement made in response to Jimmy Carter's technical arguments about the economy at a Teamsters convention in Ohio.
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.