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" Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a... "
John Maynard Keynes - Page 86
by Hyman P. Minsky - 2008 - 181 pages
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Essays on John Maynard Keynes

Milo Keynes - Biography & Autobiography - 1975 - 354 pages
...do no harm as bubbles on a steady stream of enterprise, but the position is serious when enterprise becomes the bubble on a whirlpool of speculation....activities of a Casino the job is likely to be ill-done.' In his last speech as Chairman of the National Mutual Life in May 1938, he spoke as usual to a wider...
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Choice, Complexity and Ignorance: An Enquiry Into Economic Theory and the ...

Brian J. Loasby - Business & Economics - 1976 - 266 pages
...future events with even more unstable expectations about future expectations of future expectations. When the capital development of a country becomes...activities of a casino, the job is likely to be ill-done. The measure of success attained by Wall Street, regarded as an institution of which the proper social...
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Middle- and Long-term Energy Policies and Alternatives: Hearings Before the ...

United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Energy and Power - Energy policy - 1976 - 946 pages
...the misdirection of investment through speculative influences, which Keynes referred to when he said "When the capital development of a country becomes...the activities of a Casino, the job is likely to be ill done." * 3 All this would be true even if the distribution of income and wealth were accepted as...
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Takeover Tactics and Public Policy: Hearings Before the Subcommittee ..., Part 1

United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications, Consumer Protection, and Finance - Government publications - 1984 - 766 pages
...market and elsewhere reminds me of Keynes' shrewd observation when he looked ack at 1929 and wrote: "when the capital development of a country becomes...the activities of a casino, the job is likely to be ill done." It seems to me that the present frenzy ought to be dampened down by legislation designed...
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The Economic Illusion: False Choices Between Prosperity and Social Justice

Robert Kuttner - Business & Economics - 1987 - 328 pages
...profitable." And again, in a famous passage, "When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be illdone." For Keynes, the insight that aggregate demand was all important removed one of the central social defenses...
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The Great Economic Debate: Failed Economics and a Future for Canada

Cy Gonick - Business & Economics - 1987 - 442 pages
...investment. As he put it in a famous passage, "When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill done."7 "In conditions of laissez-faire." he surmised, "the avoidance of wide fluctuations in employment...
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Guaranteed Job Opportunity Act: joint hearing before the ..., Part 3

United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Employment and Productivity - Discrimination in employment - 1987 - 300 pages
...becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill— done. Our economy has increasingly been operating over the past twenty years with a casino effect....
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Mergers and Acquisitions: Hearings Before the Subcommittee on ..., Volume 4

United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law - Antitrust law - 1988 - 644 pages
...do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation....the activities of a casino, the job is likely to be ill done. The business of this country is fast becoming, if it is not already, in the words of Mr....
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Knights, Raiders, and Targets: The Impact of the Hostile Takeover

John C. Coffee - Business & Economics - 1988 - 562 pages
...bubbles on a sea of enterprise, but the position is serious when enterprise becomes the bubble on a sea of speculation. When the capital development of a...the activities of a casino, the job is likely to be ill done." I think those words have some meaning today. In the end I'll tell you where I come out....
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John Maynard Keynes, Critical Assessment: Second series, Volume 7

John Cunningham Wood - Biography & Autobiography - 1994 - 582 pages
...do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation....activities of a casino, the job is likely to be ill-done. The public investor (Government) is interested in knowing the size of the gap that needs to be filled...
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