1. [i]t is not sufficient that the state of affairs which we seek to promote should be better than the state of affairs which preceded it; it must be sufficiently better to make up for the evils of the transition.
    John Maynard Keynes
  2. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
    John Maynard Keynes
  3. 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. Our problem is to work out a social organization which shall be as efficient as possible without offending our notions of a satisfactory way of life.
    John Maynard Keynes
  4. Instead of using their vastly increased material and technical resources to build a wonder city, the men of the nineteenth century built slums … [which] on the test of private enterprise, ‘paid,’ whereas the wonder city would, they thought, have been an act of foolish extravagance, which would, in the imbecile idiom of the financial fashion, have ‘mortgaged the future’ … The same rule of self-destructive financial calculation governs every walk of life. We destroy the beauty of the countryside because the un-appropriated splendors of nature have no economic value. We are capable of shutting off the sun and the stars because they do not pay a dividend.
    John Maynard Keynes