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All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
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
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John K. Galbraith
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More quotes by John Kenneth Galbraith
Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.
John Kenneth Galbraith
Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
John Kenneth Galbraith
Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
John Kenneth Galbraith
Educators have yet to realize how deeply the industrial system is dependent upon them.
John Kenneth Galbraith
There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.
John Kenneth Galbraith
Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
John Kenneth Galbraith
Power is not something that can be assumed or discarded at will like underwear.
John Kenneth Galbraith
The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
John Kenneth Galbraith
Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
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It was not hard to persuade people that the market was sound as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
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Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth Galbraith
Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.
John Kenneth Galbraith
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
A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.
John Kenneth Galbraith
We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
John Kenneth Galbraith
In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Men will look back in amusement at the pretence that once caused people to refer to General Dynamics and North American Aviation and AT&T as private business.
John Kenneth Galbraith
