Is the world ruled by ideas or by interests?

Subject: Is the world ruled by ideas or by interests? Mon Apr 25, 2016 3:19 am

Most economists believe John Maynard Keynes (rhymes with "brains" not "beans") was the greatest economist of the 20th century. But his most famous quote is one I've never been sure I agree with.

Is the world ruled by ideas or by interests? 1461532724943

Is the world ruled by ideas or by interests? 1461532724943

He claimed that "the ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood.

We probably should have a toolbox full of theories, choosing to use the one that best fits the particular issue we're focusing on.

"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."

One man who definitely agrees is Barry Schwartz, a professor of psychology at Swarthmore College in Pennsylvania. He writes in his book Why We Work that, where once our ideas about human nature may have come from our parents, our community leaders and our religious texts, these days they come mostly from social science.

Read more: http://www.smh.com.au/business/the-economy/is-the-world-ruled-by-ideas-or-by-interests-20160424-godp8l.html#ixzz46ovw1KKc

Is the world ruled by ideas or by interests?

Is the world ruled by ideas or by interests?

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