Skip to content
quotesby

About this quote

What does it mean?
The speaker blames economists and specifically Keynes for intellectual errors that led to the failure of the Camelot administration.
In plain terms
Bad advice from economists hurt the Camelot era.
What can you take from it?
Intellectual errors by experts can have huge political consequences.

Where it applies

  • political analysis
  • evaluating advisors
  • historical review

Putting it to work

  • scrutinize expert advice
  • learn from policy mistakes

Questions to consider

  • How much do advisors matter?
  • Who is responsible for policy failures?

Another view

It assigns disproportionate blame to one theorist.

More from John Maynard Keynes

  1. It is ideas, not vested interests, which are dangerous for good or evil.

    Permalink to quote #52
  2. Did Keynes create a sense of hope? Oh, unquestionably. There was this breath of hope and optimism, and I came back from Cambridge to find a whole group of peop…

    Permalink to quote #54
  3. 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…

    Permalink to quote #51

Related quotes

  1. Ike had lots to do. First off, he had to clean up the big mess left by Franklin Roosevelt, a President who wasted so much taxpayer money on needless and wastef…

    George W. BushGeorge W. Bush quote #383
  2. George W. Bush is a man who seems to be the center of his own universe. He seems to have learned little of human nature and even less of human history over his…

    Robert ByrdRobert Byrd quote #1
  3. I wish I could say that the Chancellor of the Exchequer had done himself less than justice. Unfortunately, I can only say that I believe he has done himself ju…

    Margaret ThatcherMargaret Thatcher quote #3