"Dread of disaster makes everybody act in the very way that increases the disaster. Psychologically the situation is analogous to that of people trampled to death when there is a panic in a theatre caused by a cry of 'Fire!' In the situation that existed in the great depression, things could only be set right by causing the idle plant to work again. But everybody felt that to do so was to risk almost certain loss. Within the framework of classical economics there was no solution. Roosevelt saved the situation by bold and heretical action. He spent billions of public money and created a huge public debt, but by so doing he revived production and brought his country out of the depression. Businessmen, who in spite of such a sharp lesson continued to believe in old-fashioned economics, were infinitely shocked, and although Roosevelt saved them from ruin, they continued to curse him and to speak of him as 'the madman in the White House.' Except for Fabre's investigation of the behavior of insects, I do not know any equally striking example of inability to learn from experience."
React to this quote
More by Bertrand Russell
See allResonant Thoughts
"Can one be fully human without experiencing tragedy? The only tragedy there is in the world is ignorance; all evil comes from that. The only tragedy there is in the world is unwakefulness and unawaren…"
Explore Further
Related Quotes
"The history of human knowledge is nothing more than the realization that yesterday's pieties are actually s…"
— Glenn Greenwald"God's commandments are not grievous. God put them in the garden, said "You can eat of any tree except that …"
— Kent Hovind"The war against Russia will be such that it cannot be conducted in a knightly fashion. This struggle is one…"
— Adolf Hitler"Now we got a lawyer, we got civilization, which I understand to mean that a man has a chance to get rich wi…"
— Sinclair Lewis"Verily learned to live with constant deception, hiding what he was and what he saw and what he felt and wha…"
— Orson Scott Card"“Everybody thinks they’re doing the right thing, kid. All the time. It’s about the only rule that explains …"
— Charles Stross
Related Thinkers
Related Topics
Deep Dives
- Baruch Spinoza on knowledge
- Friedrich Nietzsche on knowledge
- Thomas Carlyle on knowledge
- Aristotle on knowledge
- Immanuel Kant on knowledge
- Ludwig Wittgenstein on knowledge
- Michel de Montaigne on knowledge
- Epictetus on knowledge
- Baruch Spinoza on philosophy
- Baruch Spinoza on mind
- justice & Beauty
- justice & Change