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Keynes was a failed investor and statistician who never studied economics but was so well‐connected with the ruling class in Britain that the embarrassing drivel he wrote in his most famous book, The General Theory of Employment, Money, and Interest, was immediately elevated into the status of founding truths of macroeconomics. His theory begins wi
... See moreSaifedean Ammous • The Bitcoin Standard: The Decentralized Alternative to Central Banking
The General Theory of Employment, Interest, and Money
The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes
Keynes.
Kate RAWORTH • La Théorie du donut
“The market can stay irrational longer than you can stay solvent,” Keynes famously declared. Being early and right is the same as being wrong, as investors have repeatedly discovered.
Sebastian Mallaby • More Money Than God
Keynes, in other words, applied psychological principles rather than financial evaluation to the study of the stock market.
Burton G. Malkiel • A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Twelfth Edition)
John Maynard Keynes: “Better to be approximately right than precisely wrong”
When the facts change, I change my mind
— John Maynard Keynes
All spending is spending, in the naive economics of Keynesians, and so it matters not if that spending comes from individuals feeding their families or governments murdering foreigners: it all counts in aggregate demand and it all reduces unemployment! As an increasing number of people went hungry during the depression, all major governments spent
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