Wednesday, December 31, 2008

Accumulation and Disquietude

“The desire to hold money as a store of wealth is a barometer of the degree of our distrust of our own calculations and conventions concerning the future… It operates, so to speak, at a deeper level of our motivation. It takes charge at the moments when the higher, more precarious conventions have weakened. The possession of actual money lulls our disquietude; and the premium which we require to make us part with money is the measure of the degree of our disquietude.”

John Maynard Keynes, General Theory of Unemployment, Collected Writing, Vol. 14, p. 116.

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