Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
Interpretation
The quote critiques how people often focus on public perception rather than their own understanding or beliefs.
John Maynard Keynes highlights a tendency among Americans to prioritize the commonly held beliefs about what the average opinion is, rather than forming their own opinions or understanding. This reflects societal pressure to conform to perceived norms and opinions, suggesting a deeper commentary on the nature of public discourse and individual thought in a democratic society.
In practice
In a speech about the importance of independent thinking, this quote can illustrate the dangers of simply following the crowd.
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
We will not have any more crashes in our time.
This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
The book, as it stands, seems to me to be one of the most frightful muddles I have ever read, with scarcely a sound proposition in it beginning with page 45 [Hayek provided historical background up to page 45; after that came his theoretical model], and yet it remains a book of some interest, which is likely to leave its mark on the mind of the reader. It is an extraordinary example of how, starting with a mistake, a remorseless logician can end up in bedlam.
The Tao that can be told is not the eternal Tao; the name that can be named is not the eternal name. The Nameless is the origin of Heaven and Earth; the Named is the mother of all things.
Peace as a positive condition of society, not merely as an interim between wars, is something so unknown that it casts no images on the mind's screen.
Flashbacks rarely involve language. Mine certainly didn't. They were visual, motor, and sensory, and they took place in a relentless, horrifying present.
Are we not all of us fanatics? I say only what you of the U.S.A. pretend you do not know. Attachments are of great seriousness. Choose your attachments carefully. Choose your temple of fanaticism with great care. What you wish to sing of as tragic love is an attachment not carefully chosen. Die for one person? This is a craziness. Persons change, leave, die, become ill. They leave, lie, go mad, have sickness, betray you, die. Your nation outlives you. A cause outlives you.
Fishing is a... discipline in the equality of men - for all men are equal before fish.
For too long we've been told about 'us' and 'them.' Each and every election we see a new slate of arguments and ads telling us that 'they' are the problem, not 'us.' But there can be no 'them' in America. There's only us.
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