PETER DRUCKER on John Maynard Keynes

“Economic considerations are restraints rather than overriding determinants. Economic wants and economic satisfactions are important but not absolutes.

Above all, economic activities, economic institutions, economic rationality, are means to noneconomic (that is, human or social) ends rather than ends in themselves. And this means that I do not see economics as an autonomous ‘science.’

In short, it means that I am not an economist—something I have known since, in 1934 as a young economist in a London merchant bank, I sat in the John Maynard Keynes seminar in Cambridge.

I suddenly realized that Keynes was interested in the behavior of commodities, while I was interested in the behavior of people.”

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PETER DRUCKER on John Maynard Keynes

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