Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
About this quote
- What does it mean?
- Keynes critiques capitalism by suggesting it relies on the paradox that individuals pursuing selfish or wicked interests inadvertently produce societal benefits.
- In plain terms
- The system works because people doing bad things for their own gain end up helping everyone else.
- What can you take from it?
- Self-interest can drive collective good, even if the motives are not virtuous.
Where it applies
Putting it to work
Questions to consider
- Can a system built on selfishness truly serve the common good?
- Is the outcome more important than the intention in economics?
Another view
It oversimplifies human motivation and ignores cases where self-interest harms the public.
More from John Maynard Keynes
It is better to be roughly right than precisely wrong.
Permalink to quote #25 The importance of money flows from it being a link between the present and the future.
Permalink to quote #27 When the facts change, I change my mind. What do you do, sir?
Permalink to quote #24
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