“When the facts change, I change my mind - what do you do, sir?”
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Quote Analysis: "When the facts change, I change my mind - what do you do, sir?" - John Maynard Keynes
This quote by the influential economist John Maynard Keynes highlights the importance of intellectual flexibility and adaptability. Keynes emphasizes the value of responding to new evidence rather than stubbornly clinging to outdated beliefs or opinions.
The phrase suggests that true wisdom lies in the willingness to revise one’s standpoint when confronted with changing circumstances or new information. It challenges rigidity and promotes a pragmatic approach to decision-making, encouraging open-mindedness and critical thinking.
By ending with the question, "what do you do, sir?" Keynes directly engages the listener or reader, prompting self-reflection and inviting a contrast between his adaptive mindset and the potentially inflexible stance of others.
Overall, the quote underscores the dynamic nature of knowledge and the necessity of evolving one's views in light of fresh facts — a principle that is applicable across disciplines, from economics to everyday life.
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