We should not conclude from this that everything depends on waves of irrational psychology. On the contrary, the state of long-term expectation is often steady, and, even when it is not, the other factors exert their compensating effects. We are merely reminding ourselves that human decisions affecting the future, whether personal or political or economic, cannot depend on strict mathematical expectation, since the basis for making such calculations does not exist; and that it is our innate urge to activity which makes the wheels go round, our rational selves choosing between the alternatives as best we are able, calculating where we can, but often falling back for our motive on whim or sentiment or chance. John Maynard Keynes
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More Quotes By John Maynard Keynes
  1. The long run is a misleading guide to current affairs. In the long run we are all dead.
  2. Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
  3. When my information changes, I alter my conclusions. What do you do, sir?
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  5. Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
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