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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
Whole
Nearly
Financial
Responsibility
Small
Community
Sense
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Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
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There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
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Power is as power does.
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The foresight of financial experts was, as so often, a poor guide to the future.
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Power is not something that can be assumed or discarded at will like underwear.
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Nothing is more portable than rich people and their money
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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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Why is anything intrinsically so valueless so obviously desirable?
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Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
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Economics exists to make astrology look respectable.
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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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Meetings are indispensable when you don't want to do anything.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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Technology means the systematic application of scientific or other organized knowledge to practical tasks.
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The greater the wealth the thicker will be the dirt.
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Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
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I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.
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