“When my information changes, I alter my conclusions. What do you do, sir?” - John Maynard Keynes

This quote by John Maynard Keynes encapsulates a critical principle of intellectual humility and adaptability. Keynes highlights the importance of being open to revising one's opinions or decisions when faced with new, better, or updated information. It suggests a mindset of:

1. Flexibility: Rigidly clinging to previous beliefs or conclusions despite evidence to the contrary can lead to poor decisions or missed opportunities. Keynes advocates for a willingness to change in light of changing circumstances or improved understanding.
2. Rationality: Rational decision-making requires aligning one's conclusions with the best available data or insights. Sticking to outdated views undermines this process.
3. Critique of Stubbornness: The phrase "What do you do, sir?" challenges those who refuse to adapt, questioning whether their approach reflects intellectual integrity or stubbornness.
4. Scientific Method: This perspective aligns with the scientific method, where hypotheses are continuously tested, and conclusions evolve as evidence accumulates.

Keynes's statement reminds us that growth and wisdom come from learning, adapting, and improving, not from holding onto outdated beliefs for consistency.

John Maynard Keynes (1883–1946) was a British economist whose groundbreaking ideas revolutionized modern economics. His seminal work, The General Theory of Employment, Interest, and Money (1936), introduced the concept of aggregate demand and argued for government intervention to stabilize economies during recessions. Keynes’ theories laid the foundation for Keynesian economics, influencing global fiscal policies and recovery strategies during the Great Depression and beyond. He was pivotal in shaping the Bretton Woods system and establishing the International Monetary Fund and World Bank. Keynes’ legacy endures as a cornerstone of macroeconomic thought and policy.

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