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[No Comment]

Keynes and Burke on the Unpredictability of War

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Burke ever held, and held rightly, that it can seldom be right… to sacrifice a present benefit for a doubtful advantage in the future… It is not wise to look too far ahead; our powers of prediction are slight, our command over results infinitesimal. It is therefore the happiness of our own contemporaries that is our main concern; we should be very chary of sacrificing large numbers of people for the sake of a contingent end, however advantageous that may appear… We can never know enough to make the chance worth taking… There is this further consideration that is often in need of emphasis: it is not sufficient that the state of affairs which we seek to promote should be better than the state of affairs which preceded it; it must be sufficiently better to make up for the evils of the transition.

John Maynard Keynes, Burke’s Timidity on Embarking on War (1904) reproduced in: Robert Skidelsky, John Maynard Keynes: Economist, Philosopher, Statesman p. 97 (2003)

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