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The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
John Kenneth Galbraith
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John Kenneth Galbraith
Age: 97 †
Born: 1908
Born: October 15
Died: 2006
Died: April 29
Diplomat
Economist
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John K. Galbraith
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Repelled
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Money
Economics
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More quotes by John Kenneth Galbraith
No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
John Kenneth Galbraith
In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Conscience is better served by a myth.
John Kenneth Galbraith
Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.
John Kenneth Galbraith
If all else fails immortality can always be assured by adequate error.
John Kenneth Galbraith
We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
John Kenneth Galbraith
Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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The inborn instability of capitalism has been part of the history of the system for several hundred years.
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One man's consumption becomes his neighbor's wish.
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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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Nothing is more portable than rich people and their money
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The spirit should never grow old.
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We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.
John Kenneth Galbraith
Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
John Kenneth Galbraith
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.
John Kenneth Galbraith
There is something wonderful in seeing a wrong-headed majority assailed by truth.
John Kenneth Galbraith
People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Nothing so weakens government as persistent inflation.
John Kenneth Galbraith
