October 8, 2008

State Building

In the process of developing his innovative theories of microeconomics, the 20th century’s most influential economist, John Maynard Keynes, repeatedly came to the conclusion that his earlier beliefs failed to hold water. This in turn made his critics accuse him of flip-flopping. Keynes is said to have famously quipped: “When the facts change, I change my mind – what do you do, sir?”

In the process of developing his innovative theories of microeconomics, the 20th century’s most influential economist, John Maynard Keynes, repeatedly came to the conclusion that his earlier beliefs failed to hold water. This in turn made his critics accuse him of flip-flopping. Keynes is said to have famously quipped: “When the facts change, I change my mind – what do you do, sir?”


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