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“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the
by jmeister 5y ago
“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else.
Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.” — J M Keynes
http://www.equitablegrowth.org/the-general-theory-of-employment-interest-and-money/ http://www.equitablegrowth.org/the-general-theory-of-employm...
- sva_ 5y agoThe fact that this was written by an economist makes the whole quote seem fairly self-masturbatory.
- sudosysgen 5y agoI agree that economists have a lot of value as political philosophers. But that's largely not how economics operates nowadays, the field is mostly trying to operate as a hard science.