Comments on: John Maynard Keynes: Capitalism and the “Nastiest/Wickedest of Men”

By: Garson O'Toole

Garson O'Toole — Wed, 23 Feb 2011 20:20:41 +0000

While researching a quotation attributed to John Maynard Keynes about capitalism and the “nastiest of men” I found your valuable webpage on the topic. Your work is mentioned in the webpage I created at QuoteInvestigator.com. The main new result in my research was the discovery of a 1941 variant of the saying used by a close colleague of Keynes named E. A. G. Robinson. In the book “Monopoly” Robinson wrote: The great merit of the capitalist system, it has been said, is that it succeeds in using the nastiest motives of nasty people for the ultimate benefit of society. The investigation is summarized here: http://quoteinvestigator.com/2011/02/23/capitalism-motives/ Many thanks for your work contacting economists and evaluating the quotation. Best, Garson O’Toole

By: Capitalism: The Nastiest of Men for the Nastiest of Motives Will Somehow Work for the Benefit of All « Quote Investigator

Wed, 23 Feb 2011 08:31:28 +0000

[...] [SCK] Steve Cotler blog, Entry dated July 7, 2009, John Maynard Keynes: Capitalism and the “Nastiest/Wickedest of Men”. (Accessed stevecotler.com 2011 February 23) link [...]

By: Steve Cotler

Steve Cotler — Sat, 01 May 2010 05:30:45 +0000

It is NOT quote by Keynes. I referred that blogger to my post.

By: Guestage

Guestage — Thu, 29 Apr 2010 15:08:34 +0000

A direct response to this quote:
http://blackrockmind.blogspot.com/2010/04/nastiest-of-men-doing-good.html

I think the author does a great job! If this is a quote by Keynes, he’s left looking pretty wrong.

By: Goldman Sachs and Burger King - Page 7 - Politics.ie

Goldman Sachs and Burger King - Page 7 - Politics.ie — Wed, 11 Nov 2009 18:23:23 +0000

[...] factor costs are less than output doesn't make it so). Also, you've misquoted Lord Keynes. John Maynard Keynes: Capitalism and the “Nastiest/Wickedest of Men” | Steve Cotler'… Who cares you get my drift. How can the simple existence of profit safeguard against expoilation? [...]

By: Mike Morawski

Mike Morawski — Wed, 02 Sep 2009 01:52:35 +0000

Mr. Cotler,

Sir. It was indeed a surprise, and a joy to receive your letter today, 9/1. Though I do not know your brother, Lanny personally,I think I met him once at the WCT, I am rather familiar with his political persuasions and comments in The Willits News. I must say that I admire him very much, and have always wanted to personally meet him.
My bad on the misquotation in the P.D. I should have researched it a little more before putting it out there for everyone to see. Thank you for setting the record straight.
If you’re ever up this way to visit Lanny, I would like to extend an invitation to both of you, and your families, to come up to Pine Mountain for a glass of wine, visit, and chat.

Mike Morawski

By: Steve

Steve — Sat, 29 Aug 2009 23:33:37 +0000

My refutation cannot even stem a nearby tide. On 8/26, this letter was printed in the Santa Rosa Press Democrat, my local paper: U.S. CAPITALISM EDITOR: In response to Don Christensen's Sunday letter (“U.S. socialism”), let me quote the economist John Maynard Keynes: “Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all.” MIKE MORAWSKI Willits Sigh...

By: Steve

Steve — Tue, 04 Aug 2009 14:04:59 +0000

Perhaps this is the Adam Smith statement referenced above by Prof. Cate: "I have never known much good done by those who profess to trade for the public good." It was used in Milton Friedman's Adam Smith Award Address, 31st Annual Meeting of the National Association for Business Economics, September 24-27, 1989.

By: Obama on Blagojevich Relationship–Bogus Quote | Steve Cotler's Irrepressibly True Tales

Thu, 30 Jul 2009 08:19:48 +0000

[...] a recent post, I exposed a quote attributed to John Maynard Keynes as a fraud. Such villainy, which is an [...]

By: J.

J. — Sat, 25 Jul 2009 20:45:05 +0000

BTW, speaking of misattribution, Dr. Alec Kirby does not work at the University of Wisconsin, which refers to the flagship Research I school, the University of Wisconsin at Madison. The link you offered indicates that he works at the University of Wisconsin at Stout, an entirely different (i.e., smaller, non-Ph.D.-granting) university.

Also, why is this same quote listed on his page – AND attributed to Keynes? I’m completely confused.

[SC responds: Thanks, J. Mea culpa. I have corrected the university named and included Prof. Kirby's full response to my query. You are correct that he attributed the quote to Keynes on his website. Given his response to me, however, I suspect he will remove the attribution or the quotation now that he knows that its provenance is questionable.]