Orrin Woodward LIFE Leadership Team

Winner of the 2011 Independent Association of Business Top Leader Award; Orrin Woodward shares his leadership secrets.

Economics, Politics and Madmen – John Maynard Keynes

Posted by Orrin Woodward on January 21, 2008

Here is a John Maynard Keynes quote that describes why we must discuss economics on this blog.  I could take the easy way
out and not discuss any controversial issue. 
But if we don’t discuss any controversial subjects—how do we learn the truths to live life by?    I understand that thinking through issues can
be tough, but I promise to not attack anyone personally and only attack error and focus on leading people to truth.  If
someone does not agree, then develop a reasoned argument of why you think differently and help me grow.  I believe
that when people go into labeling and name calling, then it signals a lack
of rational points to discuss and have resorted to attacking personalities not
principles.  I encourage all of us to not take the low road and focus on principles instead of personalities.  Let’s fear ignorance more than disagreement and focus on iron sharpening iron as we all grow on our way to serving and leading.  As Tim Marks states, “Know why you believe what you believe.”  I am proud of everyone for thinking, whether they agree or disagree is not as important to me as logically thinking through why you think what you think.  If you do not know why you believe what you believe, you may be a victim of some defunct economist or political philosopher.  John Maynard Keynes was an economist who lived in England during the Great Depression.  I personally disagree with much of his thinking, but I respect the fact that he thought deeply about economic issues.   Keynes’ ideas still hold sway in many economic circles and his thinking made an impact in our world.   Keynes quote below is an appropriate quote for our discussion on the presidential elections and will help us to hold all of our beliefs to critical reasoning.

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood.
Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the
air, are distilling their frenzy from some academic scribbler of a few years
back. I am sure that the power of vested interests is vastly exaggerated
compared with the gradual encroachment of ideas.

What intellectual influences have helped you develop the way you think about the economy and government?  Have you studied and read for yourself or
have you developed your ideas through parents, teachers, and the media?  Please share. God Bless, Orrin Woodward

2 Responses to “Economics, Politics and Madmen – John Maynard Keynes”

  1. […] World War II, Keynesian economics has been the main current in economic thought in America.   I have taught that […]

  2. […] economics is in a dead end street and must admit failure before it can break free of it prevailing Keynesian paradigm.  Every promise by Big Government to solve your problems is actually a power grab to take more […]

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