But my lord, when we addressed this issue a few years ago, didn't you argue the other side?" He said, "That's true, but when I get more evidence I sometimes change my mind. What do you do?
Interpretation
This quote emphasizes the importance of being open-minded and willing to change one's perspective based on new evidence.
In this quote, John Maynard Keynes reflects on the intellectual honesty required in discourse and decision-making. He acknowledges that his views have evolved as he has encountered new evidence, prompting a change in his stance on an issue. This illustrates the necessity of adaptability in thought and highlights the value of critical thinking, suggesting that one should not be rigidly attached to previous beliefs when presented with compelling new information.
In practice
This quote can be used during a debate to emphasize the importance of adapting one's viewpoint based on new information.
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.
My mother taught me three things, respect, knowledge-search for knowledge, it's an eternal journey. That's like my hair-cut, the line, 360 degrees, find knowledge always. And she taught me to not be quiet, if there's something on my mind speak it. But also to listen.
The key is the ability, whether innate or conditioned, to find the other side of the rote, the picayune, the meaningless, the repetitive, the pointlessly complex. To be, in a word, unborable... It is the key to modern life. If you are immune to boredom, there is literally nothing you cannot accomplish.
You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
We usually know what we can do, but temptation shows us who we are.
When ambitious desires arise in thy heart, recall the days of extremity thou have passed through. Forbearance is the root of all quietness and assurance forever.
I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20.
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