John Maynard Keynes
(5 Jun 1883 - 21 Apr 1946)
British economist and mathematician.
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Science Quotes by John Maynard Keynes (10 quotes)
[Isaac Newton] regarded the Universe as a cryptogram set by the Almighty—just as he himself wrapt the discovery of the calculus in a cryptogram when he communicated with Leibniz. By pure thought, by concentration of mind, the riddle, he believed, would be revealed to the initiate.
— John Maynard Keynes
In 'Newton, the Man' (1946). In Geoffrey Keynes (ed.), Essays in Biography, 2nd edition (1951), 314.
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability. That a scientific investigation pursued on account of its probability will generally lead to truth, rather than falsehood, is at the best only probable.
— John Maynard Keynes
In A Treatise on Probability (1921), 322.
Newton was not the first of the age of reason. He was the last of the magicians, the last of the Babylonians and Sumerians, the last great mind which looked out on the visible and intellectual world with the same eyes as those who began to build our intellectual inheritance rather less than 10,000 years ago. Isaac Newton, a posthumous child born with no father on Christmas Day, 1642, was the last wonder child to whom the Magi could do sincere and appropriate homage.
— John Maynard Keynes
In 'Newton, the Man' (1946). In Geoffrey Keynes (ed.), Essays in Biography, 2nd edition (1951), 311.
Professor [Max] Planck, of Berlin, the famous originator of the Quantum Theory, once remarked to me that in early life he had thought of studying economics, but had found it too difficult! Professor Planck could easily master the whole corpus of mathematical economics in a few days. He did not mean that! But the amalgam of logic and intuition and the wide knowledge of facts, most of which are not precise, which is required for economic interpretation in its highest form is, quite truly, overwhelmingly difficult for those whose gift mainly consists in the power to imagine and pursue to their furthest points the implications and prior conditions of comparatively simple facts which are known with a high degree of precision.
— John Maynard Keynes
'Alfred Marshall: 1842-1924' (1924). In Geoffrey Keynes (ed.), Essays in Biography (1933), 191-2
Scientific theories tell us what is possible; myths tell us what is desirable. Both are needed to guide proper action.
— John Maynard Keynes
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The difficulty lies, not in the new ideas, but in escaping the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.
— John Maynard Keynes
In Engines of Creation by K. Eric Drexler (1987).
The study of economics does not seem to require any specialised gifts of an unusually high order. Is it not, intellectually regarded, a very easy subject compared with the higher branches of philosophy and pure science? Yet good, or even competent, economists are the rarest of birds. An easy subject, at which very few excel! The paradox finds its explanation, perhaps, in that the master-economist must possess a rare combination of gifts. He must reach a high standard in several different directions and must combine talents not often found together. He must be mathematician, historian, statesman, philosopher—in some degree. He must understand symbols and speak in words. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought. He must study the present in the light of the past for the purposes of the future. No part of man's nature or his institutions must lie entirely outside his regard. He must be purposeful and disinterested in a simultaneous mood; as aloof and incorruptible as an artist, yet sometimes as near the earth as a politician.
— John Maynard Keynes
'Alfred Marshall: 1842-1924' (1924). In Geoffrey Keynes (ed.), Essays in Biography (1933), 170.
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.
— John Maynard Keynes
A Tract on Monetary Reform (1923), 80.
We know that the probability of well-established induction is great, but, when we are asked to name its degree we cannot. Common sense tells us that some inductive arguments are stronger than others, and that some are very strong. But how much stronger or how strong we cannot express.
— John Maynard Keynes
In A Treatise on Probability (1921), Chap. 22, 259.
Why do I call [Isaac Newton] a magician? Because he looked on the whole universe and all that is in it as a riddle, as a secret which could be read by applying pure thought to certain evidence, certain mystic clues which God had laid about the world to allow a sort of philosopher's treasure hunt.
— John Maynard Keynes
In 'Newton, the Man' (1946). In Geoffrey Keynes (ed.), Essays in Biography, 2nd edition (1951), 313.