The book, as it stands, seems to me to be one of the most frightful muddles I have ever read, with scarcely a sound proposition in it beginning with page 45 [Hayek provided historical background up to page 45; after that came his theoretical model], and yet it remains a book of some interest, which is likely to leave its mark on the mind of the reader. It is an extraordinary example of how, starting with a mistake, a remorseless logician can end up in bedlam.
Interpretation
This quote reflects on the chaotic nature of certain ideas while acknowledging their impact.
John Maynard Keynes critiques a book that he finds poorly constructed, yet he recognizes that its flawed reasoning can still provoke thought and influence its readers. He illustrates how even erroneous beginnings can lead to profound conclusions, emphasizing the complexities of logic and understanding in philosophical discourse.
In practice
In a book club discussion, one might use this quote to highlight the importance of critically analyzing texts.
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
We will not have any more crashes in our time.
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.
If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
A bodily disease which we look upon as whole and entire within itself, may after all, be but a symptom of some ailment in the spiritual part.
The first principle of a free society is an untrammeled flow of words in an open forum.
We live in a relativistic culture, where people are more con- cerned with being liked than being truthful. In A Sweet and Bitter Providence, John Piper does an outstanding job of bibli- cally defending key truths that the church often ignores. He gives us an example of how to take a bold and educated stand on issues of race, purity, and God's sovereignty.
In this constant battle which we call living, we try to set a code of conduct according to the society in which we are brought up, whether it be a Communist society or a so-called free society; we accept a standard of behaviour as part of our tradition as Hindus or Muslims or Christians or whatever we happen to be.
There is a universal reality in ourselves that aligns us with a universal reality that is everywhere.
When I was a child, I was raised Catholic. Somewhere, I didn't fit with the saints and holy men. I discovered the monsters - in Boris Karloff, I saw a beautiful, innocent creature in a state of grace, sacrificed by sins he did not commit.
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