When my information changes, I alter my conclusions. What do you do, sir?

John Maynard Keynes (1883-1946) English economist

Reply to a criticism of having changed his position on monetary policy. Quoted in Paul Samuelson, "The Keynes Centenary" The Economist, Vol. 287 (1983), but possibly apocryphal (see here).

  • "When events change, I change my mind. What do you do?"
  • "When the facts change, I change my mind. What do you do, sir?"
  • "When someone persuades me that I am wrong, I change my mind. What do you do?"
Added on 21-Mar-17 | Last updated 15-Apr-20
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2 Responses to (Attributed)

  1. Hugh Hyatt says:

    I trust you saw the result Garson O’Toole obtained when he looked into this: http://bit.ly/2mSzcRA.

  2. Dave says:

    Thanks, Hugh — I’ve made a note of that. Also, apologies for the delay in responding. I’m having “reply” problems here on the blog.

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