John Maynard Keynes Quotes About Values
-
Thus those reformers, who look for a remedy by creating artificial carrying-costs for the money through the device of requiring legal-tender currency to be periodically stamped at a prescribed cost in order to retain its quality as money, or in analogous ways, have been on the right track; and the practical value of their proposals deserves consideration.
→ -
In truth, the gold standard is already a barbarous relic. All of us, from the Governor of the Bank of England downwards, are now primarily interested in preserving the stability of business, prices, and employment, and are not likely, when the choice is forced on us, deliberately to sacrifice these to outworn dogma, which had its value once, of 3 pounds, 17 shill ings, 10 1/2 pence per ounce. Advocates of the ancient standard do not observe how remote it now is from the spirit and the requirements of the age. A regulated nonmetallic standard has slipped in unnoticed. It exists.
→ -
I do not mean to impugn the social justice and social expediency of the redistribution of incomes aimed at by N.I.R.A. and by the various schemes for agricultural restriction. The latter, in particular, I should strongly support in principle. But too much emphasis on the remedial value of a higher price-level as an object in itself may lead to serious misapprehension as to the part which prices can play in the technique of recovery. The stimulation of output by increasing aggregate purchasing power is the right way to get prices up; and not the other way round.
→
Related Authors
-
Alfred Marshall Economist -
Jean-Baptiste Say Economist -
Paul Samuelson Economist -
Adam Smith Philosopher -
Francois Quesnay Economist -
John Stuart Mill Philosopher -
Karl Marx Philosopher -
Friedrich August von Hayek Economist -
Sir John Richard Hicks Economist -
Michal Kalecki Economist -
John Kenneth Galbraith Economist -
Joan Robinson Economist -
David Ricardo Economist -
Thomas Malthus Scholar -
Milton Friedman Economist -
Irving Fisher Economist -
Ludwig von Mises Philosopher -
Paul Krugman Economist -
Joseph A. Schumpeter Economist