Tag Archives: John Maynard Keynes

C. D. Broad

[D]id Bacon provide any logical justification for the principles and methods which he elicited and which scientists assume and use? He did not, and he never saw that it was necessary to do so. There is a skeleton in the cupboard of Inductive Logic, which Bacon never suspected and Hume first exposed to view. Kant conducted the most elaborate funeral in history, and called Heaven and Earth and the Noumena under the Earth to witness that the skeleton was finally disposed of. But, when the dust of the funeral procession had subsided and the last strains of the Transcendental Organ had died away, the coffin was found to be empty and the skeleton in its old place. Mill discretely closed the door of the cupboard, and with infinite tact turned the conversation into mote cheerful channels. Mr Johnson and Mr Keynes may fairly be said to have reduced the skeleton to the dimensions of a mere skull. But that obstinate caput mortuum still awaits the undertaker who will give it Christian burial. May we venture to hope that when Bacon’s next centenary is celebrated the great work which he set going will be completed; and that Inductive Reasoning, which has long been the glory of Science, will have ceased to be the scandal of Philosophy?

C. D. Broad, The Philosophy of Francis Bacon, an address delivered at Cambridge on the occasion of the Bacon Tercentenary, 5 October 1926, Cambridge, 1926, pp. 66–67

Ludwig von Mises

Keynes was not an innovator and champion of new methods of managing economic affairs. His contribution consisted rather in providing an apparent justification for the policies which were popular with those in power in spite of the fact that all economists viewed them as disastrous. His achievement was a rationalization of the policies already practiced. He was not a “Revolutionary,” as some of his adepts called him. The “Keynesian revolution” took place long before Keynes approved of it and fabricated a pseudo-scientific justification for it. What he really did was to write an apology for the prevailing policies of governments.

Ludwig von Mises, ‘Lord Keynes and Say’s Law’, in Planning for Freedom, and other essays and addresses, South Holland, Illinois, 1952, p. 69