Sunday, October 30, 2016

Quote of the day 30th October 2016

The quote below is usually attributed to Keynes though there is no proof he actually said it.

There is, however, proof that another distinguished economist, Paul Samuelson, who was awarded the 1970 Nobel Prize in economics actually said something very similar on Television in 1970 and 1978 - and on the second occasion Samuelson attributed the remark to Keynes.

Whether it's really Keynes who first said this or not, it is highly relevant to a discussion I had with friends on Facebook this week, so here is the quote:

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