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There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
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
Forecasters
Investing
Kinds
Two
Kind
More quotes by John Kenneth Galbraith
Decision has greater virtue and force if taken after there has been eloquent dissent.
John Kenneth Galbraith
Pundits forecast not because they know, but because they are asked.
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I react to what is necessary. I would like to eschew any formula.
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If you get a reputation for being honest, you have 95 percent of the competition already beat.
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Happiness does not require an expanding economy
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One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.
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All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.
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Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
John Kenneth Galbraith
These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted when the man of controversy is looked upon as a disturbing influence when originality is taken to be a mark of instability and when, in minor modification of the original parable, the bland lead the bland.
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It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.
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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that create the wants.
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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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The Senate has unlimited debate in the House, debate is ruthlessly circumscribed. There is frequent discussion as to which technique most effectively frustrates democratic process.
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Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.
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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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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
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War remains the decisive human failure.
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However, it is safe to say that at the peak in 1929 the number of active speculators was less - and probably was much less - than a million.
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Originality is something that is easily exaggerated, especially by authors contemplating their own work.
John Kenneth Galbraith
