It is only he, possessed of all sagely qualities that can exist under heaven, who shows himself quick in apprehension, clear in discernment, of far-reaching intelligence, and all-embracing knowledge, fitted to exercise rule; magnanimous, generous, benign, and mild, fitted to exercise forbearance; impulsive, energetic, firm, and enduring, fitted to maintain a firm hold; self-adjusted, grave, never swerving from the Mean, and correct, fitted to command reverence; accomplished, distinctive, concentrative, and searching, fitted to exercise discrimination. All-embracing is he and vast, deep and active as a fountain, sending forth in their due season his virtues. All-embracing and vast, he is like Heaven. Deep and active as a fountain, he is like the abyss. He is seen, and the people all reverence him; he speaks, and the people all believe him; he acts, and the people all are pleased with him.
Confucius
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The Age that admires talk so much can have little discernment for inarticulate work, or for anything that is deep and genuine. Nobody, or hardly anybody, having in himself an earnest sense for truth, how can anybody recognize an inarticulate Veracity, or Nature-fact of any kind; a Human Doer especially, who is the most complex, profound, and inarticulate of all Nature's Facts? Nobody can recognize him: till once he is patented, get some public stamp of authenticity, and has been articulately proclaimed, and asserted to be a Doer. To the worshipper of talk, such a one is a sealed book. An excellent human soul, direct from Heaven,-how shall any excellence of man become recognizable to this unfortunate? Not except by announcing and placarding itself as excellent,-which, I reckon, it above other things will probably be in no great haste to do.
Thomas Carlyle
My feet they are sore, and my limbs they are weary;
Long is the way, and the mountains are wild;
Soon will the twilight close moonless and dreary
Over the path of the poor orphan child.Why did they send me so far and so lonely,
Up where the moors spread and grey rocks are piled?
Men are hard-hearted, and kind angels only
Watch o'er the steps of a poor orphan child.Yet distant and soft the night breeze is blowing,
Clouds there are none, and clear stars beam mild,
God, in His mercy, protection is showing,
Comfort and hope to the poor orphan child.Ev'n should I fall o'er the broken bridge passing,
Or stray in the marshes, by false lights beguiled,
Still will my Father, with promise and blessing,
Take to His bosom the poor orphan child.There is a thought that for strength should avail me,
Though both of shelter and kindred despoiled;
Heaven is a home, and a rest will not fail me;
God is a friend to the poor orphan child.
Charlotte Brontë
The proof of the pudding is in the eating. There was a widespread myth of the 1970s, a myth along Tom Kuhn's (1962) Structure of Scientific Revolutions lines. The Keynesianism, which worked so well in Camelot and brought forth a long epoch of price-level stability with good Q growth and nearly full employment, gave way to a new and quite different macro view after 1966. A new paradigm, monistic monetarism, so the tale narrates, gave a better fit. And therefore King Keynes lost self esteem and public esteem. The King is dead. Long live King Milton!
Contemplate the true facts. Examine 10 prominent best forecasting models 1950 to 1980: Wharton, Townsend–Greenspan, Michigan Model, St. Louis Reserve Bank, Citibank Economic Department under Walter Wriston's choice of Lief Olson, et cetera. ... M did matter as for almost everyone. But never did M alone matter systemically, as post-1950 Friedman monetarism professed.
Paul Samuelson