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Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.
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
Advantage
Widely
Cases
Advantages
Wealth
Proved
Economy
Finance
Often
Prosperity
Without
Contrary
Made
Although
Never
Case
Persuasive
More quotes by John Kenneth Galbraith
One man's consumption becomes his neighbor's wish.
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I think without a doubt, that what is called financial genius is merely a rising market.
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No society ever seems to have succumbed to boredom. Man has developed an obvious capacity for surviving the pompous reiteration of the commonplace.
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Nothing so weakens government as persistent inflation.
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All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
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Economics is not an exact science.
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In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest source of anxiety. Over all history it has oppressed nearly all people in one of two ways: either it has been abundant and very unreliable, or reliable and very scarce.
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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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Very important functions can be performed very wastefully and often are.
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The conspicuously wealthy turn up urging the character building values of the privation of the poor.
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I've been writing a book called The Economics of Innocent Fraud. I published part of it already in The Progressive (Free Market Fraud, January 1999). But I've been interrupted these last few months. It deals with all of the things we do, in an innocent way, to cover up the truth.
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Power is not something that can be assumed or discarded at will like underwear.
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In dealing with Mr. Nixon, it is not easy to be unfair. He invites and justifies all available criticism.
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Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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Ideas are inherently conservative. They yield not to the attack of other ideas but to the massive onslaught of circumstance with which they cannot contend.
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It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.
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Complexity and obscurity have professional value - they are the academic equivalents of apprenticeship rules in the building trades. They exclude the outsiders, keep down the competition, preserve the image of a privileged or priestly class. The man who makes things clear is a scab. He is criticized less for his clarity than for his treachery.
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For the sake of The Progressive, I will say that [Robert] La Follette was relevant, but he was the last.
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Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
John Kenneth Galbraith
