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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
Kind
Forecasters
Investing
Kinds
Two

More quotes by John Kenneth Galbraith

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In the affluent society, no useful distinction can be made between luxuries and necessities.
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A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
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One of my greatest pleasures in my writing has come from the thought that perhaps my work might annoy someone of comfortably pretentious position. Then comes the realization that such people rarely read.
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Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
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Happiness does not require an expanding economy
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It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
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We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.
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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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The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.
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One man's consumption becomes his neighbor's wish.
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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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There is something wonderful in seeing a wrong-headed majority assailed by truth.
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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 power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.
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The questions that are beyond the reach of economics-the beauty, dignity, pleasure and durability of life-may be inconvenient but they are important.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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Agriculture is one economic activity that does not obey the laws of demand and supply.
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In economics it is a far, far wiser thing to be right than to be consistent
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Increasingly in recent times we have come first to identify the remedy that is most agreeable, most convenient, most in accord with major pecuniary or political interest, the one that reflects our available faculty for action then we move from the remedy so available or desired back to a cause to which that remedy is relevant.
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Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.
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