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In economics, the majority is always wrong.
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
Economics
Majority
Economic
Wrong
Inspirational
Always
Economist
Investing
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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.
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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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You will find that [the] State [Department] is the kind of organisation which, though it does big things badly, does small things badly too.
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In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
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Men are, in fact, either sustained by organization or they sustain organization.
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To add to the technostructure is to increase its power in the enterprise.
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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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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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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.
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In recent times no problem has been more puzzling to thoughtful people than why, in a troubled world, we make such poor use of our affluence.
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Only in very recent times has the average man been a source of savings.
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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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The enemy of the conventional wisdom is not ideas but the march of events.
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Nothing is more portable than rich people and their money
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THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
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Agriculture is one economic activity that does not obey the laws of demand and supply.
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Private enterprise did not get us atomic energy.
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Commencement oratory must eschew anything that smacks of partisan politics, political preference, sex, religion or unduly firm opinion. Nonetheless, there must be a speech: Speeches in our culture are the vacuum that fills a vacuum.
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