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The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.
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
Responsibility
Small
Community
Sense
Whole
Nearly
Financial
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Who is king in the world of the blind when there isn't even a one eyed man?
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A point must be repeated: only the pathological weakness of the financial memory...allows us to believe that the modern experience of....debt...is in any way a new phenomenon.
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Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
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The greater the wealth the thicker will be the dirt.
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The urge to consume is fathered by the value system which emphasizes the ability of the society to produce.
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One man's consumption becomes his neighbor's wish.
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Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
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Economists are generally negligent of their heroes.
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According to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many.
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There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
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The privileged have regularly invited their own destruction with their greed.
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One can relish the varied idiocy of human action during a panic to the full, for, while it is a time of great tragedy, nothing is being lost but money.
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All writers know that on some golden mornings they are touched by the wand they are on intimate terms with poetry and cosmic truth. I have experienced these moments myself. Their lesson is simple: It's a total illusion. And the danger in the illusion is that you will wait for those moments.
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The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
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People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
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If it is dangerous to suppose that government is always right, it will sooner or later be awkward for public administration if most people suppose that it is always wrong.
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We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.
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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.
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Decision has greater virtue and force if taken after there has been eloquent dissent.
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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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