Although there are other heresies in The General Theory, along with puzzles, opacities, loose ends, confusions, errors, exaggerations, and anachronisms galore, they do not detract from the book's relevance to our present troubles. Economists may have forgotten The General Theory and moved on, but economics has not outgrown it, or the informal mode of argument that it exemplifies, which can illuminate nooks and crannies that are closed to mathematics. Keynes's masterpiece is many things, but "outdated" it is not.
Richard PosnerRelated topics
argument economics forgotten galore general loose masterpiece mathematics present relevance things endsRelated quotes
Conditions to the north of us, in the Voronezh and Steppe Fronts zone of action, and our offensive on Kharkov demands that we not lose time and we commit all forces so that we can draw off as many divisions as possible from Kharkov. And even if we do not draw them off, at least we will not give Manstein the ability to take any of his units from our part of the front. If we attract one or two German tank divisions - it will be the best contribution to the defeat of the enemy in the south.
Aleksandr Vasilevsky
The nude gains its enduring value from the fact that it reconciles several contrary states. It takes the most sensual and immediately interesting object, the human body, and puts it out of reach of time and desire; it takes the most purely rational concept of which mankind is capable, mathematical order, and makes it a delight to the senses; and it takes the vague fears of the unknown and sweetens them by showing that the gods are like men and may be worshiped for their life-giving beauty rather than their death-dealing powers.
Kenneth Clark
If every day a man takes orders in silence from an incompetent superior, if every day he solemnly performs ritual acts which he privately finds ridiculous, if he unhesitatingly gives answers to questionnaires which are contrary to his real opinions and is prepared to deny his own self in public, if he sees no difficulty in feigning sympathy or even affection where, in fact, he feels only indifference or aversion, it still does not mean that he has entirely lost the use of one of the basic human senses, namely, the sense of humiliation.
Václav Havel
We must, with God's help, eradicate the deadly poison of the demon of anger from the depths of our souls. So long as he dwells in our hearts and blinds the eyes of the heart with his somber disorders, we can neither discriminate what is for our good, nor achieve spiritual knowledge, nor fulfill our good intentions, nor participate in true life; and our intellect will remain impervious to the contemplation of the true, divine light; for it is written, 'Man's anger does not bring about the righteousness of God' (Jms. 1:20).
John Cassian
The existence of analogies between central features of various theories implies the existence of a general theory which underlies the particular theories and unifies them with respect to those central features. This fundamental principle of generalization by abstraction was enunicated by the eminent American mathematician E. H. Moore more than thirty years ago. It is the purpose of the pages that follow to work out its implication for theoretical and applied economics.
Paul Samuelson