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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
Politician
University Teacher
John K. Galbraith
Mind
Create
Reveal
Simple
Complexity
Repelled
Process
Decent
Evade
Money
Economics
Monetary
Truth
Deeper
Bankers
Seems
Fields
Banking
Used
Mystery
Banks
Important
Study
Disguise

More quotes by John Kenneth Galbraith

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Nothing so denies a person liberty as the total absence of money.
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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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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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But it can be laid down as a rule that those who speak most of liberty are least inclined to use it.
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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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Who is king in the world of the blind when there isn't even a one eyed man?
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In economics it is a far, far wiser thing to be right than to be consistent
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
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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.
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Of all classes the rich are the most noticed and the least studied.
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Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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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.
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THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
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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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Hermann Goering, Joachim von Ribbentrop, Albert Speer, Walther Frank, Julius Streicher and Robert Ley did pass under my inspectionand interrogation in 1945 but they only proved that National Socialism was a gangster interlude at a rather low order of mental capacity and with a surprisingly high incidence of alcoholism.
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Educators have yet to realize how deeply the industrial system is dependent upon them.
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No society ever seems to have succumbed to boredom. Man has developed an obvious capacity for surviving the pompous reiteration of the commonplace.
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Inventions that are not made, like babies that are not born, are rarely missed.
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