Of The Maxims Of Orthodox Finance None, Surely, Is More Anti-social Than The Fetish Of Liquidity, The Doctrine Of That It Is A Positive Virtue On The Part Of Investment Institutions To Concentrate Their Resources Upon The Holding Of 'liquid' Securities. It Forgets That There Is No Such Thing As Liquidity Of Investment For The Community As A Whole.

-John Maynard Keynes

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Of The Maxims Of Orthodox Finance None,

John Maynard Keynes

Of The Maxims Of Orthodox Finance None, Surely, Is More Anti-social Than The Fetish Of Liquidity, The Doctrine Of That It Is A Positive Virtue On The Part Of Investment Institutions To Concentrate Their Resources Upon The Holding Of 'liquid' Securities. It Forgets That There Is No Such Thing As Liquidity Of Investment For The Community As A Whole.

Topic

Community

Liquid

Doctrine

It Is Impossible That The Intention Of The Entrepreneur Who Has Borrowed In Order To Increase Investment Can Become Effective (except In Substitution For Investment By Other Entrepreneurs Which Would Have Occurred Otherwise) At A Faster Rate Than The Public Decide To Increase Their Savings

Philosophy

Order

Entrepreneur