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The General Theory of Employment, Interest, and Money Quotes. “Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”. “The ideas which are here expressed so laboriously are extremely simple and should be obvious. The difficulty lies, not in the new ideas, but in escaping from the ...
- Preface
- Chapter 1-20
- Chapter 21
- Chapter 22-
- Chapter 24
The difficulty lies, not in the new ideas, but in escaping from the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.
I have called this book the General Theory of Employment, Interest and Money, placing the emphasis on the prefix general. The object of such a title is to contrast the character of my arguments and...
For the importance of money essentially flows from its being a link between the present and the future.
Once doubt begins it spreads rapidly.We reach a condition where there is a shortage of houses, but where nevertheless no one can afford to live in the houses that there are.The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and thus keeping us permanently in a quasi-boom.I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught;Never in history was there a method devised of such efficacy for setting each country's advantage at variance with its neighbours' as the international gold (or, formerly, silver) standard.II
1. Now, though this state of affairs would be quite compatible with some measure of individualism, yet it would mean the euthanasia of the rentier, and, consequently, the euthanasia of the cumulative oppressive power of the capitalist to exploit the scarcity-value of capital. 1.1. Book 6, Chapter 24: Concluding Notes 1. But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital. 1.1. Book 6, Chapter 24: Concluding Notes
III
1. The advantage to efficiency of the decentralization of decisions and of individual responsibility is even greater, perhaps, than the nineteenth century supposed; and the reaction against self-interest may have gone too far. ...[I]ndividualism, if it can be purged of its defects and its abuses, is the best safeguard of personal liberty... compared with any other system, it greatly widens the field for the exercise of personal choice. It is also the best safeguard of the variety of life... t...
- Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all. John Maynard Keynes.
- The difficulty lies, not in the new ideas, but in escaping from the old ones. John Maynard Keynes. Inspirational, Change, Lying.
- It is better to be roughly right than precisely wrong. John Maynard Keynes. Insightful, Investing.
- When the facts change, I change my mind. John Maynard Keynes. Business, Mind, Facts.
The General Theory of Employment, Interest, and Money is a seminal work by renowned economist John Maynard Keynes, published in 1936. This groundbreaking book revolutionized the field of economics and profoundly impacted government economic policy during the 20th century.
The General Theory of Employment, Interest, and Money is a groundbreaking economic work written by British economist John Maynard Keynes, published in 1936. This book revolutionized the field of macroeconomics and challenged the prevailing theories of classical economics that dominated the early 20th century.
14. the classical theory of the rate of interest o appendix on the rate of interest in marshall's principles of economics, ricardo's principles of political economy, and elsewhere 15. the psychological and business incentives to liquidity 16. sundry observations on the nature of capital 17. the essential properties of interest and money 18. the ...
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