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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
Non-Fiction Writer
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John K. Galbraith
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Evade
Money
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More quotes by John Kenneth Galbraith
If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
John Kenneth Galbraith
Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Inventions that are not made, like babies that are not born, are rarely missed.
John Kenneth Galbraith
To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
John Kenneth Galbraith
There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .
John Kenneth Galbraith
Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
John Kenneth Galbraith
The greater the wealth the thicker will be the dirt.
John Kenneth Galbraith
The happiest time of anyone's life is just after the first divorce.
John Kenneth Galbraith
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.
John Kenneth Galbraith
The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
John Kenneth Galbraith
The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
John Kenneth Galbraith
Private enterprise did not get us atomic energy.
John Kenneth Galbraith
Both we and the Soviets face the common threat of nuclear destruction and there is no likelihood that either capitalism or communism will survive a nuclear war.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Educators have yet to realize how deeply the industrial system is dependent upon them.
John Kenneth Galbraith
Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
John Kenneth Galbraith
The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
John Kenneth Galbraith
In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
John Kenneth Galbraith
