Some Quotes from John Maynard Keynes

When the facts change, I change my mind. What do you do, sir?

• Reply to a criticism during the Great Depression of having changed his position on monetary policy, as quoted in Lost Prophets: An Insider's History of the Modern Economists (1994) by Alfred L. Malabre, p. 220

The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again.

• A Tract on Monetary Reform (1923) Ch. 3; many have thought this meant Keynes supported short terms gains against long term economic performance, but he was actually criticizing the belief that inflation would acceptably control itself without government intervention.

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

• As quoted in The Economist (13 February 1982), p. 11

Thanks

Paul