I have concentrated thus far on one aspect of achievement: the creation of a theory or theories, which in some form pass into the standard usage of economists. But with Keynes, and with other economists, theories were not the whole story. Keynes was also an applied economist using the existing body of theory in conjunction with the available facts of the world to try to shape certain outcomes, be they the international monetary system in 1931–2 or 1941–6, or the financial policy of the British Government in 1915, 1929–33 or 1940–6. And shape them he did with some success through various forms of private and public persuasion. How he did so and why he did so are also subjects for historians of economics, not to mention biographers, who may in the process of writing a biography have acquired additional perspectives.
Donald MoggridgeRelated topics
achievement additional aspect biography body british certain conjunction creation economics economist far form government international mention pass persuasion policy private process public shape standard story success system theory thus try usage using world writing keynes factsRelated quotes
In a certain sense all knowledge is inductive. We can only learn the laws and relations of things in nature by observing those things. But the knowledge gained from the senses is knowledge only of particular facts, and we require some process of reasoning by which we may collect out of the facts the laws obeyed by them. Experience gives us the materials of knowledge: induction digests those materials, and yields us general knowledge. When we possess such knowledge, in the form of general propositions and natural laws, we can usefully apply the reverse process of deduction to ascertain the exact information required at any moment. In its ultimate foundation, then, all knowledge is inductive-in the sense that it is derived by a certain inductive reasoning from the facts of experience.
William Stanley Jevons
Deeply as many people deplored the policy which at a critical moment in European history gave Hitler a free hand in the East to develop his ambitious schemes of domination, strongly opposed as we were to many features of the Soviet system, we had no hesitation in proclaiming that as enemies of our enemies we should do all we could to help the Russian people in their fight... It was not unlikely that Hitler hoped to be able to launch from Moscow a great peace offensive. He would like to proclaim himself the saviour of Europe from Bolshevism... He would deceive no one in the Government. The great mass of the people in this country and in the countries of the British Commonwealth and Empire would not be deceived. We would not make peace with the Nazi gang because such a peace would be no peace. It would be a betrayal of everything for which this country stood.
Clement Attlee
The worst thing that can happen to advanced devotees who are fixed in Krishna consciousness is that they will go back to the spiritual world. Thus, they are enabled by calamitous situations to go back to Krishna more quickly. It is a part of the process of devotion that from time to time everyone must be tested in various ways. When we take to devotional service we are declaring war against Maya. We are on a battlefield, engaged in our own battle of Kuruksetra. We shouldn't read the Bhagavad-gita and think that it is merely some fascinating ancient history and philosophy. We should also understand that Arjuna is representing every person who is trying to take shelter of Krishna. Arjuna had to undergo bewilderment and serious choices, but Krishna was present to protect him.
Bhakti Tirtha Swami
For what advantage is it, that the world enjoys profound peace, if thou art at war with thyself? This then is the peace we should keep. If we have it, nothing from without will be able to harm us. And to this end the public peace contributes no little: whence it is said, ‘That we may lead a quiet and peaceable life.' But if any one is disturbed when there is quiet, he is a miserable creature. Seest thou that He speaks of this peace which I call the third (inner, ed.) kind? Therefore when he has said, ‘that we may lead a quiet and peaceable life,' he does not stop there, but adds ‘in all godliness and honesty.' But we cannot live in godliness and honesty, unless that peace be established. For when curious reasonings disturb our faith, what peace is there? or when spirits of uncleanness, what peace is there?
John Chrysostom
The inspiring theory for Bretton Woods was suggested by a well known economist, beyond any suspect, John M. Keynes. Lord Keynes - as in the meanwhile he has been appointed by the English Crown - appeared worried about possible troubles in the international system of payments, like those occurred after World War One, which contributed to the new conflict. He has published an article on this subject in 1946. Consequently he gave the blessing of his authority to the agreements. Lord Keynes, as chief of the British delegation, was appointed chairman of the Commission II, charged for the institution of an International Bank for Reconstruction and Development - IBRD (World Bank). The Bretton Woods agreements represented a sort of solemn will for Lord Keynes, since he died out two years later the signature.
Nico Perrone
