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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
John Kenneth Galbraith
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John Kenneth Galbraith
Age: 97 †
Born: 1908
Born: October 15
Died: 2006
Died: April 29
Diplomat
Economist
Non-Fiction Writer
Politician
University Teacher
John K. Galbraith
Troubled
Nonsense
Investing
Firm
Sea
Thought
Anchor
Better
Anchors
Thing
Seas
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Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
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The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's an integral part of the system.
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Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
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In any great organization it is far, far safer to be wrong with the majority than to be right alone.
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People who are in a fortunate position always attribute virtue to what makes them so happy.
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It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.
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Only in very recent times has the average man been a source of savings.
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The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
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Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.
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Agriculture is one economic activity that does not obey the laws of demand and supply.
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It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
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I am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.
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In the affluent society, no useful distinction can be made between luxuries and necessities.
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Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.
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No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.
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When people are least sure, they are often most dogmatic.
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A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
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Hermann Goering, Joachim von Ribbentrop, Albert Speer, Walther Frank, Julius Streicher and Robert Ley did pass under my inspectionand interrogation in 1945 but they only proved that National Socialism was a gangster interlude at a rather low order of mental capacity and with a surprisingly high incidence of alcoholism.
John Kenneth Galbraith
